The bipartisan measure was approved by the Senate late Thursday night after passing the House in yet another late session the night before.
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 that he said would have been catastrophic for the U.S. and global economies.
The bipartisan measure was approved by the Senate 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 today!
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