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The US is officially out of the risk of defaulting on its debt

Jun 05, 2023

Washington [US], June 5: The Washington Post reported that US President Joe Biden has just signed into law a law suspending the public debt ceiling, helping the country escape the risk of default that the US Treasury Department predicts will take place on June 5.
When he signed the bill into law at the White House on June 3 (local time), the leader said that in addition to averting the dire financial consequences of default, the law would help maintain the benefits of the agenda. on the broad spectrum that he promoted during the first two years of his term.
The enactment of the law also helps Mr. Biden to polish his image as an experienced, capable leader who operates effectively in the face of polarization. The new law allows the US government to suspend the public debt ceiling of $31.4 trillion for the two years through January 1, 2025, in return for having to control spending during that time.
President Biden praised House Speaker Kevin McCarthy , negotiators for acting in good faith, and congressional leaders for ensuring speedy passage of the bill. "They acted responsibly, putting the good of the country ahead of politics," Biden said.
Source: ThanhNien Newspaper