Published By: Saurabh Verma
Last Updated: June 03, 2023, 23:36 IST
Washington D.C., United States of America (USA)
President Joe Biden (File AP Photo/Manuel Balce Ceneta)
Biden signed into law the “Fiscal Responsibility Act of 2023,” which suspends the so-called debt ceiling to renew borrowing and keep the bills paid, thus avoiding a default that would have likely triggered market panic, huge job losses and a recession, with global implications
US President Joe Biden on Saturday signed into law a bill on raising the nation’s debt ceiling that was passed by Congress after weeks of wrangling, averting a catastrophic default, the White House said.
Biden signed into law the “Fiscal Responsibility Act of 2023,” which suspends the so-called debt ceiling to renew borrowing and keep the bills paid, thus avoiding a default that would have likely triggered market panic, huge job losses and a recession, with global implications.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – AFP)
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