TELETRADER News
5/29, 12:40 AM
(Source: TeleTrader)
Biden urges Congress to pass budget agreement
United States President Joe Biden urged Congress to pass the bipartisan budget agreement he provisionally reached with House Speaker Kevin McCarthy.
Speaking to reporters at a press conference, Biden stated the agreement seeks to prevent a possible economic crisis, a recession in the fall. Biden noted he had to make certain compromises to get the deal with House Republicans, however, he insisted he managed to ensure social security and Medicare are a part of it.
Moreover, Biden stressed that he and McCarthy did not reach an agreement on the debt ceiling. Still, he also underscored the deal achieved on the budget was made "in good faith." On the other hand, he admitted he is uncertain if the deal will garner enough Republican votes.