Biden announced the prevention of collapse after the conclusion of the deal on public debt
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US President Joe Biden intends to sign a bill to raise the national debt limit on Saturday, June 3. In his opinion, the budget agreement concluded with the Republicans prevented the collapse.
“The adoption of this budget agreement was crucial. The stakes couldn’t be higher,” Biden told reporters (Associated Press quote).
The American leader noted that neither the Democrats nor the Republicans got “everything they wanted.” “But the American people got what they needed. We prevented the economic crisis and the collapse of the economy,” he added.
Negotiations on the debt ceiling have been going on for the past few weeks. Republicans, who control the House of Representatives, have refused to agree to raise the cap without cutting spending. The US Treasury expected default in early June. The deal was final agreed May 29.
About the parameters of the transaction – in the material “Kommersant” “Debt ceiling and Joe Biden were given the go-ahead”.
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