President Joe Biden signs the law avoiding default

USA President Joe Biden I signed the agreement debt ceiling convert it into law.

The agreement was reached after weeks of negotiations between Biden and Republicans with an intervention that prevents the US from defaulting.
On the night between Thursday and Friday, after the House of Representatives, the US Senate also approved an agreement to increase the so-called “debt ceiling” for a period of two years, that is, the amount of money that the state can borrow from the markets to finance it. activity.

In addition to addressing the debt limits issue, with a deferred suspension until 2025, the act places limits on non-defense spending, expands work requirements for some food stamp recipients, and takes back some money for Covid-19 relief.

“Senators voted on both sides to protect Our hard-won economic progress and prevented the first American defaultThese are the words of President John Biden on the sidelines of the vote, which he added.Together, they prove once again thatAmerica It is a nation that pays its bills and keeps its commitments – and always will be“.

In an address to the nation yesterday by Oval OfficeBiden said that “if we don’t reach an agreement, there will be extremist voices threatening to bring America down, for the first time in our region.” 247 years of history, towards the default. The president added, “Nothing would be more irresponsible, nothing more disastrous.”