US President Joe Biden said he had reached a budget agreement with House Speaker Kevin McCarthy to avoid default. CNN.
“We have reached a bipartisan agreement on the budget,” he said.
Biden noted that this is a crucial step that removes the threat of a devastating default and preserves the results achieved in the economic recovery. According to him, reaching an agreement is good news for the American people.
“This deal will now go to the House and Senate,” Biden said.
on the eve of bloomberg WroteBiden’s position in the 2024 presidential election may be shaken if the US public debt limit is increased.
In January, the US exceeded the statutory debt ceiling of $31.4 trillion. After that, the US Treasury had to take emergency measures to continue its financial operations.
In response, United States Secretary of the Treasury Janet Yellen warned Congress that the administration could exhaust emergency measures in conjunction with the June 5 debt ceiling.