US Economic Crisis 2023: America (United States), the country with the world’s largest economy, has now been saved from bankruptcy. America’s government treasury had reached the lowest level in the last 6 years, but after the deal between the government and the opposition party, the debt limit has increased. US President Joe Biden addressed the US debt limit from the Oval Office of the White House.
US President Biden said that now the crisis has been averted. And, we will sign the new bill. In his first address from the White House on Friday, June 2, Biden announced the passage of a bill to save the country from economic devastation. During this, Biden used the opportunity to bridge his divide with Americans, saying that his agreement with Congress’ top Republican Kevin McCarthy had shown what could be done for the good of the country.
‘Stop shouting, work for the progress of the country’
Speaking of bringing together both his Democrat Party and the Republican Party sitting in the opposition in the interest of the country, Biden said, “No matter how complicated our politics are, we should not see each other as adversaries but as allies of Americans.” Need to be seen as…,” he told critics, “stop yelling, lower the temperature and work together to push progress.”
This bill will save America from default!
It was told by the ruling Democrat Party that today, on Saturday, President Joe Biden will sign a bill, which will save America from defaulting. Till now, it was being said about the debt-ridden America that by June 5, America could default. Treasury Secretary Janet L. Yellen had said in the last week of May that no deal is being finalized between the government and the opposition party on increasing the debt limit in America, in which case America may go bankrupt by June 5. After that, President Joe Biden held a meeting with House Speaker Kevin McCarthy from the Republican Party and persuaded him to increase the debt limit.
US President’s meeting with McCarthy paid off
Kevin McCarthy, a supporter of former President Donald Trump in the US, is one of the 147 Republicans who tried to defeat the Democrat Party in the 2020 election, although Biden still won. Now since the Biden government needs a loan, but without taking the opposition along, the US government does not get the loan, so Biden held a meeting with McCarthy recently and asked them to cooperate. Biden told the media yesterday, “We have agreed to increase mutual cooperation, and work together.” He said, “Both sides acted in good faith.”
This is great news for Americans: Joe Biden
Biden said, “It was important for us to reach an agreement, and this is great news for Americans. Neither side got everything they wanted, but the American people got what they deserved.” was required.” “We averted the economic crisis looming over the country,” he said.
This is how the opposition got support in the House of Representatives
According to reports, Republicans voted 117 out of 314 to approve the US government’s bill in the Republican-majority House of Representatives, while the Democrat-controlled Senate voted 36 out of 63. Biden was happy at this and said, “The last vote in both houses was tremendous.”
