The Future of US Debt-Ceiling Crisis Under Biden's Administration.
TL;DR Summary
President Joe Biden signed legislation on Saturday that suspends the debt limit until 2025 and restricts government spending, averting an unprecedented default on the federal government's debt. The final agreement, passed by the House on Wednesday and the Senate on Thursday, gives lawmakers budget targets for the next two years in hopes of assuring fiscal stability as the political season heats up. The legislation also changes some policies, including imposing new work requirements for older Americans receiving food aid and greenlighting an Appalachian natural gas pipeline that many Democrats oppose.
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