Biden signs bill to raise U.S. debt limit

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Biden signs bill to raise U.S. debt limit

STORY: Biden signs bill to raise U.S. debt limit DATELINE: June 4, 2023 LENGTH: 00:01:21 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. photo of Biden signing the bill (White House Photo) 2. various of exterior of the White House 3. various of U.S. Senate voting on the bill 4. various of U.S. House of Representatives voting on the bill 5. various of exterior of the U.S. Capitol STORYLINE: U.S. President Joe Biden signed Fiscal Responsibility Act of 2023 into law Saturday afternoon so as to avoid a historic default on government debt. The bipartisan act suspends the public debt limit through Jan. 1, 2025, and increases the limit to the actual debt level on Jan. 2, 2025. According to Goldman Sachs, a global investment bank, U.S. total federal government debt would exceed 35 trillion U.S. dollars by January 2025, which equals more than 100,000 dollars for each U.S. citizen. "This bipartisan agreement is a big win for our economy and the American people," Biden said just moments after the Senate p

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