“Nobody got everything they wanted but we avoided a crisis and an economic collapse.” This was stated by US President Joe Biden regarding the agreement on the increase in the debt ceiling approved by Congress. In his speech to the nation from the Oval Office of the White House, the president observes that the green light for the agreement was “essential”. The measure continues to grow “our economy and reflects our values as a country. The only way America can function is through compromise and consensus.”
With the «bipartisan» agreement on the debt it was possible to avoid «a crisis and our first default in history. It would have been irresponsible, the economy would have slipped into a recession and eight million jobs would have been lost. I will sign the debt ceiling agreement» on Saturday, says President Biden, praising the speaker of the House, Kevin McCarthy, and the leaders of the House and Senate. “We are investing in America, in Americans and in the future.” Joe Biden then listed the successes of his administration: from the drop in drug prices to the plan for semiconductors.
