Biden Gives Update on Debt Ceiling Agreement

President Joe Biden announced on Sunday that a debt ceiling bipartisan agreement with House Speaker Kevin McCarthy (R-Calif) has taken the “threat of catastrophic default off the table.”

The two finalized the deal and is expected to go to the House Wednesday evening. However, the agreement still needs approval from both chambers of Congress.

“[The deal] represents a compromise, which means no one got everything they wanted. But that’s the responsibility of governing,” Biden said. “The agreement prevents the worst possible crisis and default for the first time in our nation’s history.”

The agreement comes just days before the U.S. would have faced its first-ever default. (Read more from “Biden Gives Update on Debt Ceiling Agreement” HERE)

Photo credit: Gage Skidmore via Flickr

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