President Joe Biden addressed the United States in a prime-time speech after Congress passed legislation to raise the nation’s $31.4 trillion debt ceiling, averting an economically disastrous default. Speaking from the Oval Office behind the Resolute Desk, he stressed that the unity between Democrats and Republicans made it possible. Biden noted that no one got everything they wanted, but still acted to avert the worst-case scenario. Only by seeing each other not as adversaries but as fellow Americans can the nation weather difficult times. The Fiscal Responsibility Act lifts the debt ceiling through Jan. 1, 2025, in exchange for some cuts to federal spending.

Source: ABC News June 03, 2023 14:04 UTC