Pray so they do not serve alone. Ephesians 6:10-20
Joe Biden Used his First Oval Office Address to Tout the Debt Ceiling Deal and Pledge Continued Bipartisanship
Jun 2, 2023, 9:41 PM GMT-5
"President Joe Biden celebrated a "crisis averted" in his first speech to the nation from the Oval Office Friday evening, ready to sign a budget agreement that eliminates the potential for an unprecedented government default he said would have been catastrophic for the US and global economies.
The Senate approved the bipartisan measure late Thursday night after passing the House in yet another late session the night before. Biden is set to sign it at the White House on Saturday with just two days to spare until the Treasury Department has warned the U.S. wouldn't be able to meet its obligations.
"Passing this budget agreement was critical. The stakes could not have been higher," Biden said. "Nothing would have been more catastrophic," he said, than defaulting on the country's debt.
The agreement was hashed out by Biden and House Speaker Kevin McCarthy, giving Republicans some of their demanded federal spending cuts but holding the line on major Democratic priorities. It raises the debt limit until 2025 — after the 2024 presidential election — and gives legislators budget targets for the next two years, hoping to ensure fiscal stability as the political season heats up."