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Biden Delivers Oval Office Remarks on US Avoiding Default

President Joe Biden delivered remarks Friday evening on the Fiscal Responsibility Act, bipartisan legislation achieved following weeks of tough negotiations that suspends the government’s debt limit and avoids a potentially disastrous default. For the first time Biden spoke from the Oval Office, signifying the occasion’s importance. White House Bureau Chief Patsy Widakuswara has this report.
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US Senate Approves Debt Ceiling Deal 

The U.S. Senate voted Thursday night 63-36 in support of a measure that will allow the United States to continue to pay its bills. The U.S. had been on track to run out of cash in four days. The bipartisan legislation now goes to President Joe Biden for his signature.

“Tonight, senators from both parties voted to protect the hard-earned economic progress we have made and prevent a first –ever default by the United States,” Biden said in a statement.

The House of Representatives overwhelmingly voted Wednesday night, with wide support from Republican and Democratic lawmakers alike, to allow the government to continue to borrow more money over the next year-and-a-half to meet its financial obligations, exceeding the current $31.4 trillion debt limit.

The legislation does not set a new monetary cap, but the borrowing authority would extend to Jan. 2, 2025, two months past next year’s presidential election.

In addition, the legislation calls for maintaining most federal spending at the current level in the fiscal year starting in October, with a 1% increase in the following 12 months.

“The responsible thing for America is to pass it,” one Senate leader, Democrat Dick Durbin, had told reporters.

Both Democratic Senate Majority Leader Chuck Schumer and Mitch McConnell, the Senate Republican leader, supported suspension of the debt limit and called for swift passage of the legislation.

Schumer told the Senate, “Time is a luxury the Senate does not have if we want to prevent default. There is no good reason — none — to bring this process down to the wire. … I hope we see nothing even approaching brinksmanship. The country cannot afford that now.”

The House approved the legislation on a 314-117 vote despite objections by far-right Republican lawmakers who said it did not go far enough to cut spending and from Democratic progressives who said it trimmed too much.

Seventy-one lawmakers from the majority Republican party in the House voted against the bill, as did 46 Democrats.

In a statement following Wednesday’s vote, Biden celebrated the agreement as a “bipartisan compromise.”

“It protects key priorities and accomplishments from the past two years, including historic investments that are creating good jobs across the country,” Biden said. “And, it honors my commitment to safeguard Americans’ health care and protect Social Security, Medicare, and Medicaid [pensions and health care insurance for older Americans and welfare payments for impoverished people]. It protects critical programs that millions of hardworking families, students, and veterans count on.”

Republican House Speaker Kevin McCarthy, who negotiated the deal with Biden, told reporters that getting the bill passed “wasn’t an easy fight.” He emphasized the budget savings and criticized Democrats who wanted to separate the debate about future government spending from the need to suspend the debt limit so current financial obligations could be met.

“We put the citizens of America first and we didn’t do it by taking the easy way,” McCarthy said. “We didn’t do it by the ways that people did in the past by just lifting [the debt ceiling]. We decided you had to spend less and we achieved that goal.”

McCarthy said he intends to follow Wednesday’s action with more efforts to cut federal spending.

The measure does not raise taxes, nor will it stop the national debt total from continuing to increase, perhaps by another $3 trillion or more over the next year-and-a-half until the next expiration of the debt limit.

Other pieces of the legislation include a reduction in the number of new agents hired by the country’s tax collection agency, a requirement that states return $30 billion in unspent coronavirus pandemic assistance to the federal government and extending from 50 to 54 the upper age bracket for those required to work in order to receive food aid.
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Former New Jersey Governor Christie Expected to Join Republican Presidential Race

Former New Jersey Governor Chris Christie is expected to launch a Republican presidential campaign next week in New Hampshire.

Christie, who also ran in 2016, is planning to make the announcement at a town hall Tuesday evening at Saint Anselm College’s New Hampshire Institute of Politics, according to a person familiar with his thinking who spoke on condition of anonymity to confirm Christie’s plans.

The timing, which was first reported by Axios, comes after several longtime Christie advisers started a super political action committee to support his expected candidacy.

The Associated Press had previously reported that Christie was expected to enter the race “imminently.”

Christie critical of Trump

Christie has cast himself as the only potential candidate willing to aggressively take on former President Donald Trump, the current front-runner for the nomination. Christie, a former federal prosecutor, was a longtime friend and adviser to Trump, but broke with Trump over his refusal to accept the results of the 2020 election. Christie has since emerged as a leading and vocal critic of the former president.

Christie, who is currently polling at the bottom of the pack, dropped out of the 2016 presidential race a day after finishing sixth in New Hampshire’s primary.

In addition to Trump, Christie would be joining a GOP field that includes Florida Governor Ron DeSantis, U.S. Senator Tim Scott of South Carolina, former United Nations Ambassador Nikki Haley, former Arkansas Governor Asa Hutchinson, and biotech entrepreneur and “anti-woke” activist Vivek Ramaswamy.

North Dakota Governor Doug Burgum is expected to announce his candidacy on June 7, according to two GOP operatives. And former Vice President Mike Pence is also expected to launch a campaign soon.

‘I’m not a paid assassin’

Allies believe that Christie, who has been working as an ABC News analyst, has a unique ability to communicate. They say his candidacy could help prevent a repeat of 2016, when Trump’s rivals largely refrained from directly attacking the New York businessman, wrongly assuming he would implode on his own.

Christie has also said repeatedly that he will not run if he does not see a path to victory. “I’m not a paid assassin,” he recently told Politico.

While Christie is expected to spend much of his time in early-voting New Hampshire, as he did in 2016, advisers believe the path to the nomination runs through Trump, and they envision an unconventional, national campaign for Christie with a focus on garnering media attention and directly engaging with Trump.
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