Biden declares “crisis averted” after bipartisan debt limit deal reached

U.S. President Joe Biden proclaimed “crisis averted” Friday night in his first address to the nation from the Oval Office, after both chambers of Congress this week passed a bipartisan bill to raise the government’s borrowing limit.

Hailing the consensus Democrats and Republicans eventually reached after knife-edge negotiations, Biden said, “No one got everything they wanted but the American people got what they needed.”

“We averted an economic crisis and an economic collapse,” Biden said, adding that he will sign the legislation into law on Saturday.

The passage will suspend the $31.4 trillio...