Biden's Debt Ceiling Deal Prevents Economic Collapse
TL;DR
President Joe Biden has praised Republicans for their "good faith" in raising the US borrowing limit, which he said averted "economic collapse". The bill suspends the debt limit until 1 January 2025 and caps non-defence spending, while expanding work requirements for food and healthcare assistance, amongst other provisions. The legislation will result in $1.5tn in savings over a decade. The deal passed with bipartisan support in Congress, though some Republicans and Democrats had reservations about the package.
- Biden says debt ceiling deal averted 'economic collapse' BBC
- President Biden addresses nation after passage of debt ceiling bill CBS New York
- President Biden Oval Office Address on Debt Limit Deal C-SPAN
- Opinion | The Great Debt Ceiling Drama's Finale The New York Times
- Biden ‘misunderestimated’ Kevin McCarthy, and it led to a major conservative victory The Hill
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