US President Joe Biden on Saturday signed into law the debt ceiling bill that had been passed by Congress preventing a potential default in the largest economy worldwide.

Biden signs debt ceiling bill into law preventing potential default

Months of back-and-forth and drama over whether the US will raise the debt ceiling or not are seemingly coming to an end. The US House of Representatives as well as the Senate voted in favour of raising the debt ceiling.

Explained: What is in the debt ceiling bill passed by US Congress?

United States President Joe Biden struck a deal ‘in principle’ with Republican lawmakers to increase the debt ceiling of the country on Saturday, in a first crucial step towards averting the disastrous default with a few days to spare.

US: Biden, Republicans reach ‘in principle’ deal to avert catastrophic debt default

As the back-and-forth on extending the debt limit continues, a group of progressive lawmakers in the US are now urging President Joe Biden to use his authority under the 14th Amendment of the Constitution to continue paying the US government’s bills, even if the ceiling is not raised.

US debt ceiling: Democrat lawmakers ask Biden to use ‘14th Amendment’ to evade debt default

Crunch talks between US President Joe Biden and senior Republicans have been postponed until early next week to allow staff to continue working, the White House said in a statement Thursday.

US debt ceiling talks postponed until next week: White House

United States President Joe Biden held a meeting with top lawmakers at the Oval Office, on Tuesday (May 9) in a bid to break a deadlock over raising the $31.4 trillion debt limit, as the country faces the risk of an unprecedented default.

US Pres Biden, House Speaker McCarthy meeting on debt ceiling fails to break deadlock, threat of default looms

The US House of Representatives passed a bill, narrowly at it, to raise the government's debt limit. The bill, passed on Wednesday by a 217-215 vote, proposes to increase the borrowing limit by $1.

US House passes bill to revise ''debt ceiling'': Decoding the controversial term

In a big win for Speaker Kevin McCarthy, the US House passed legislation on Wednesday by a narrow 217-215 vote that would raise the government's legal debt ceiling (also known as borrowing limit) by $1.

In big win for Speaker McCarthy, US House passes debt ceiling bill

The US Congressional Budget Office warned that the federal government would be at risk of a payment default as soon as July if politicians fail to raise the debt limit.

US likely to face debt-ceiling crisis this July, warns CBO