Biden says he will sign a bill to raise the debt ceiling as soon as possible

U.S. President Joe Biden intends to sign as soon as possible the bill approved by both chambers of Congress to raise the ceiling of the national debt in order to prevent default in the country.

“I look forward to signing this bill as soon as possible and also to speaking directly to Americans on Friday,” Biden said.

The American leader stated that the agreements he had reached earlier with the Republicans to raise the ceiling of the national debt are a compromise but avoid default. He noted that “no one gets everything he wants in negotiations.”

U.S. Treasury Secretary Janet Yellen stressed in a statement released Thursday that a default would “cause serious hardship” in the country, including the loss of “millions of jobs and trillions of dollars in household savings.” As the finance chief noted, “Congress has an obligation to ensure that the United States pays its debts on time.” Yellen spoke out against allowing faith in U.S. creditworthiness to become “a bargaining chip.”

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