President Joe Biden has signed legislation to suspend the debt limit until 2025. Biden made the announcement in an address from the Oval Office. “No one got everything that they wanted, but the American people got what they needed. We averted an economic crisis; we’re cutting spending and bringing the deficits down at the same time.” After weeks of negotiations, the debt ceiling agreement passed in the House on Wednesday and the Senate on Thursday. The debit limit now stands at more than $31 trillion.
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