After weeks of wrangling US Congress has finally avoided a historic default as US President Joe Biden signed the debt ceiling bill into law. In his first address to the nation from the Oval Office, he said that no one got everything they wanted, but the American people got what they needed. The bill suspends the massive 31.4 trillion dollars debt ceiling.

Default crisis averted by compromise bill | US News

The US House of Representatives won a critical battle as a bill to suspend a massive 31.4 trillion dollar debt ceiling has passed the Republican-controlled House of Representatives. The deeply divided house voted 314-117 to clear the bill late last night. The bill has been temporarily suspended and has temporarily suspended the debt ceiling until January 2025.

US House passes debt limit bill as McCarthy and Biden break the deadlock

Republican and Democrat representatives met again at the White House in an effort to hammer out a solution to the US debt ceiling crisis. This meeting comes a day after US President Joe Biden held talks with White House speaker Kevin McCarthy.

Treasury Secretary warns US running out of cash, could breach debt limit on June 1

The US debt limit talks are ongoing with no progress made so far, increasing market uncertainty. Speaker of the house Kevin McCarthy and President Joe Biden engaged in discussions but disagreements persist. The possibility of a default is looming, with treasury secretary Janet Yellen stating that the chances of paying all bills by mid-June are low. However, investors remain hopeful, as a bank of America survey revealed that 71% of investors believe a solution will be reached.

No progress in US debt limit talks

US President Joe Biden has returned to the US after concluding the G7 Summit in Japan’s Hiroshima and the focus is back on the most pressing domestic challenge of the debt ceiling crisis. Biden is soon expected to hold in-person talks with speaker of the house Kevin McCarthy. The two are to discuss the impending debt ceiling issue faced by the United States, which is on the verge of defaulting, in case it fails to clear all debts by June 1.

US is only two weeks away from defaulting

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Default crisis averted by compromise bill | US News

Default crisis averted by compromise bill | US News

US House passes debt limit bill as McCarthy and Biden break the deadlock

Treasury Secretary warns US running out of cash, could breach debt limit on June 1

No progress in US debt limit talks

US is only two weeks away from defaulting