USA-Biden praises the agreement to avoid default

US President Joe Biden gave a rare speech in the Oval Office yesterday, Friday, praising the passage of the debt ceiling agreement, which he intends to sign today. The vote came just in time, as the US faced the threat of a default by June 5 if the deal didn't pass. The agreement will suspend the debt ceiling for two years and outlines spending plans for the future. Biden stressed that the legislation would cut the deficit by $1 trillion over the next 10 years.

"I know bipartisanship is hard and unity is hard, but we can never stop trying. Because in times like this, the one we just faced, when the US and world economies are in danger of collapsing, there is no it's another way," the President said in his conclusion. The United States has been operating under "extraordinary measures" since January, after the Treasury Department temporarily intervened to delay an imminent government default.