Debt ceiling deal reached to avert default, but crisis looms in the future.

President Joe Biden will address the nation in a prime-time speech Friday after Congress averted an economically disastrous default by just days by passing legislation to raise the nation's $31.4 trillion debt ceiling. Biden is expected to tout the deal he made with House Speaker Kevin McCarthy as a win for American families, and proof of his ability to compromise to keep the nation on track, themes he's using in his 2024 reelection campaign. Biden will also stress the bipartisan nature of the deal, telling the nation: "No one got everything they wanted but the American people got what they needed. We averted an economic crisis and an economic collapse."