Biden in his first speech from the Oval Office: “avoiding economic collapse” | outside

to updateUS President Joe Biden announced Friday evening that he will sign the bill on Saturday that would raise the debt ceiling in the United States. He said this at 7 pm local time (Saturday 1 am Dutch time) in his first address from the Oval Office of the White House since becoming president two years ago.

Majorities in the House and Senate approved the debt deal last week. In his speech, Biden said, “The crisis has been averted.” Without congressional approval, the United States could have run out of money, causing huge chaos in the financial markets.

The president said that had the agreement not been made, the US economy would have entered a recession and eight million Americans would have lost their jobs. It was necessary to come to an agreement. We averted economic collapse.” He went on to say, “Nobody got everything they wanted, but the American people got what they needed.”

compromises and compromises

According to Biden, the deal will reduce government debt, and at the same time reduce government spending.

“The only way American democracy can function is through compromise and consensus,” Biden said. Therefore, in his speech, he also discussed the cooperation between Republicans and Democrats, which made it possible to seal the deal. Both sides acted in good faith. “Both sides kept their promises,” Biden said. Republican Speaker of the House Kevin McCarthy praised it among others. “Our teams got along well and got things done. We were completely honest and respectful of each other.”

“Without unity there is no peace, there is only bitterness and anger,” the president said. We can never become like this country. I can honestly tell you that I have never been more optimistic about the future of America. We just need to remember who we are. We are the United States of America. There is nothing we cannot do.”

US presidents usually keep a letter from the Oval Office about the most important and dramatic events like the attacks of September 11, 2001 or the explosion of the space shuttle Challenger in 1986.

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