2023-06-03 00:00:48
Washington
Big entrance – Joe Biden’s first address from the Oval Office
In a highly symbolic appearance, US President Joe Biden addressed the nation from the Oval Office for the first time since taking office – and evoked party cooperation.
published
The Capitol in Washington.
The Republicans, led by House Speaker Kevin McCarthy, and the Democrats had previously held tough negotiations.
Now only the signature of US President Joe Biden is missing. But this is considered a mere formality.
“We prevented an economic collapse,” said the US President on June 2, 2023, in his first official address from the Oval Office since taking office almost two and a half years ago.
IMAGO
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On Monday, the US would have been threatened with default.
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The debt dispute is now off the table.
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Congress passed the new law and the debt ceiling is unlikely to come up once more until 2025.
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Now President Joe Biden evoked the cooperation of the parties with a symbolic appearance.
After the bipartisan Agreement on a solution to the US debt dispute President Joe Biden has called for cooperation between Democrats and Republicans. With a highly symbolic appearance, Biden celebrated the averting of a government default on Friday evening (local time) and warned that in dramatic situations like this there is no way bipartisan cooperation over. “It mightn’t have been more at stake,” the Democrat said in an address to the nation from the Oval Office at the White House. “We have prevented an economic crisis and an economic collapse.”
It was Biden’s first official address to the nation from the Oval Office since taking office almost two and a half years ago. Such speeches from the President’s office at government headquarters, which are broadcast live on US television during prime time, are a rarity and are reserved for major situations and crisis situations.
Agreement following weeks of nail-biter
The US Congress averted the government’s inability to pay at the last minute by passing a bill on Thursday. In the USA, the parliament sets a debt ceiling at irregular intervals and thus determines how much money the state can borrow. It was only following weeks of nail-biting that Biden’s Democrats were able to agree on a compromise with the Republicans. According to the Ministry of Finance, without this the government would have run out of money on Monday. A default by the world’s largest economy might in turn have triggered a global financial crisis and an economic downturn.
Biden announced he would sign the law into law on Saturday.
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(DPA/dw)
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