President Joe Biden will address the nation from the Oval Office on Friday evening – his first time speaking to the country directly from that setting – following congressional passage of a compromise measure that raises the federal borrowing limit and avoids a catastrophic default.
The decision to speak in the most formal of presidential settings comes after weeks of fraught negotiations over the borrowing limit. The deal ultimately struck between Biden and House Speaker Kevin McCarthy raises the debt ceiling for two years, freezes domestic spending, imposes some new work requirements on food stamps and alters certain energy permitting rules.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.