Washington: Grand entrance – Joe Biden’s first address from the Oval Office

After bipartisan Agreement to resolve the US debt dispute President Joe Biden has called for cooperation between Democrats and Republicans. With a highly symbolic appearance, Biden celebrated the avoidance of default by the government on Friday night (local time) and warned that in such dramatic situations there is no way Bipartisan cooperation more. “It couldn’t be more at stake,” the Democrat said in an address to the nation from the Oval Office of the White House. “We prevented an economic crisis and an economic collapse.”

It was Biden’s first official address to the nation from the Oval Office since taking office nearly two and a half years ago. Such speeches from the president’s desk at government headquarters, broadcast live on US television during prime time, are rare and reserved for key situations and crisis situations.

Agreement after weeks of nail biting

The US Congress averted government bankruptcy at the last minute by passing a bill on Thursday. In the United States, Parliament sets debt ceilings at irregular intervals, thus limiting the amount of money the state can borrow. Only after weeks of nail biting did the Biden Democrats manage to agree a compromise with the Republicans. Otherwise, according to the Finance Ministry, the government would have run out of money on Monday. A default by the world’s largest economy could lead to a global financial crisis and economic downturn.

Biden announced he would sign the law into law on Saturday.

(DPA/dw)View comments