Connect with us

Hi, what are you looking for?


Biden signs debt ceiling deal passed by Congress, averting default

U.S. President Joe Biden addresses the nation on averting default and the Bipartisan Budget Agreement from the Oval Office of the White House in Washington June 2, 2023. He signed the deal into law June 3. (OSV News photo/Jim Watson, pool via Reuters)

WASHINGTON (OSV News) — President Joe Biden signed a bipartisan bill approved by Congress to suspend the debt ceiling June 3, just days before a June 5 deadline to address that limit or risk a U.S. government default.

In an Oval Office address June 2, Biden said, “Passing this budget agreement was critical, the stakes could not have been higher.”

“We averted an economic crisis and an economic collapse,” Biden said.

The White House said Biden signed the bill June 3.

The U.S. Senate June 1 passed its version of a compromise bill brokered by Biden and House Speaker Kevin McCarthy, a Republican who leads the House GOP majority. 

The Senate approved the bill in a 63-36 vote, sending it to Biden’s desk. 

The House of Representatives approved the bill, The Fiscal Responsibility Act, the previous day, following a contentious negotiation process between the House GOP leadership and the White House before Biden and McCarthy arrived at a deal within days of what could have been the first default in the nation’s history.

Watch your local Catholic news source for the full OSV News story.

You May Also Like


By Karla Fierro DETROIT (OSV News) — Nicole Duque, 23, has always desired to become a mother. She was born and raised in the...


By Linda Reeves MIAMI (OSV News) — Divine intervention may be the only explanation for how two college teammates graduated, ventured off on different...


BETHESDA, Md. (OSV News) — Archbishop Timothy P. Broglio of the U.S. Archdiocese for Military Services has called a decision by a U.S. military...


(OSV News) — With St. Patrick’s Day falling on a Lenten Friday this year, many U.S. bishops have issued dispensations from abstinence on March...