Biden and Republican House Speaker Kevin McCarthy announced Saturday that they had reached an agreement to raise the public debt ceiling and spare the world’s largest economy from defaulting on its debt.
US President Joe Biden, Monday, expressed optimism that Congress would approve this week a bill that would raise the public debt ceiling for the United States, in order to avoid defaulting on its debts.
“I will never say I’m sure what Congress will do, but I feel good,” Biden told reporters before leaving the White House.
He added that he had spoken on Monday with a number of parliamentarians, as well as with Senate Minority Leader Mitch McConnell and “many others.”
“It looks good,” he said. “We’ll see when the voting starts.”
Biden and Republican House Speaker Kevin McCarthy announced Saturday that they had reached an agreement to raise the public debt ceiling and spare the world’s largest economy from defaulting on its debt.
However, this agreement needs to be approved by Congress and published by Biden into law before June 5, the date set for the United States to reach the public debt ceiling and subsequently be unable to pay its debt dues, which has never happened in its history.
Congress is scheduled to discuss the agreement this week.
The Republican-controlled House of Representatives is supposed to vote on this agreement on Wednesday, to be voted on later by the Senate, in which the Democrats have a slim majority.
