US President Joe Biden hailed the debt ceiling deal announcing ‘the crisis averted’ in Washington DC, on Friday. « I’m speaking to you tonight, to report on the crisis averted and what we’re doing to protect America’s future. Passing this budget agreement was critical. The stakes could not have been higher. If we had failed to reach an agreement on the budget, there were extreme voices threatening to take America for the first time in our 247-year history and a default on our national debt. Nothing, nothing would have been more irresponsible. Nothing would have been more catastrophic, » stated Biden. The president further noted that the deal ‘successfully prevented an economic crisis and collapse’, while simultaneously reducing spending and addressing deficits. In addition, he highlighted the protection of crucial priorities such as social security, Medicare, Medicaid, veterans’ benefits, and transformative investments in infrastructure and clean energy. The comments came after the Senate and the House of Representatives approved a bill to suspend the government’s $31.4 trillion (€ 29.2 trillion) debt ceiling following intense negotiations. “I know bipartisanship is hard and unity is hard, but we can never stop trying. Because in moments like this one, the ones we just faced, where the American economy in the world, economies are at risk of collapsing. There’s no other way. No matter how tough our politics gets, we need to see each other not as adversaries, but as fellow Americans, and treat each other with dignity and respect.” Biden added. For months, Republicans blocked a raise of the debt ceiling demanding the Biden administration to cut spending for the 2024 budget as a reciprocal measure. In turn, the White House asked for a debt ceiling agreement without any additional conditions, emphasising the need for a clean deal before commencing negotiations.
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