Biden says he will sign budget bill on June 3
United States President Joe Biden confirmed that he will sign the Fiscal Responsibility Act of 2023 into law on June 3.
The "bipartisan budget agreement," as he described it in a White House speech, is "vital" and "critical." Biden claimed that "extreme voices" threatened to take the nation into default for the first time in history, which would have led to a recession with eight million people losing jobs. It would have "destroyed" the US credit rating and the country would have taken "years to climb out of that hole," according to the president.
The bill he will sign will eliminate that scenario and protect "important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy," he pointed out.