Biden delivers an address on the U.S. debt tonight from the Oval Office

President Biden delivered a rare Oval Office speech Friday evening after Congress passed legislation that narrowly averted an economic disaster from a first-ever default on the nation’s debt.

The legislation, known as a bipartisan budget deal, passed the Senate late Thursday after gaining broad support in the House this week. It suspends the debt ceiling for two years and cuts spending.

Mr. Biden is expected to sign the bill before Monday – the so-called X-date, when the Treasury secretary said the government would run out of money to pay its bills on time, a scenario economists predicted would cause global turmoil.

The President’s remarks will be held at 7 p.m

Mr. For weeks, Biden and lawmakers had hoped to reach a deal to avoid that outcome, but deep divisions between Democrats and Republicans kept the country and the world on edge until votes in both chambers.

Presidents often set aside the Oval Office to address the nation about war, economic crises or natural disasters. President Ronald Reagan delivered scathing comments from the Oval Office about the 1986 Space Shuttle Challenger explosion. President Donald J. Trump announced pandemic restrictions from the Oval Office in early 2020.

Mr. to use the same place on Friday. Biden’s decision underscores how closely he believes both sides are headed for economic disaster.

White House officials said Mr. They were cagey about what Biden planned to say in his remarks. But he has said on several occasions that he will find a way to avoid a similar situation in the future, and has cited a section of the 14th Amendment to the Constitution that says America’s debt “shall not be questioned.”

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Some legal experts believe that a president can use that clause to bypass the statutory debt ceiling, thereby avoiding the usual conflicts between the parties. Mr. Biden said last month that he hoped to “find a reason to take the 14th Amendment to the courts to see whether or not the 14th Amendment is actually something that can prevent it.”

“That’s another day,” he said on Sunday.

In an Oval Office speech, Mr. Biden could face anger among some progressives in his party after he conceded to several Republican demands during the negotiations.

Some Democratic lawmakers voted against the debt ceiling legislation because of the new work requirements imposed on some food assistance recipients. White House officials have argued that the law also removes work requirements for others, including the homeless and veterans. But Democratic critics continue to fret.

The president angered some environmentalists by approving a natural gas pipeline through West Virginia and Virginia. Critics say the 300-mile Mountain Valley Pipeline would cut across the Appalachian Trail and harm wildlife and the environment.

Mr. who is contesting for the second term as President. For Biden, the debt ceiling deal helps avoid undermining a strong economy, a key selling point for his campaign. In his comments, he spoke of strong job growth in his first two years in office.

But his political advisers must be concerned about maintaining the support of the coalition of voters who put him in office in 2020, some of whom are disillusioned with his record on climate, criminal justice and other areas.

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