Latest World News

Biden signs a bill to raise the US debt ceiling


US President Joe Biden on Saturday signed a bill to raise the US government’s debt ceiling to more than $31.4 trillion, sparing the country what would have been America’s first ever debt default.

The House and Senate approved the legislation in recent days after Biden and House Speaker Kevin McCarthy reached an agreement following tense negotiations.

The Treasury Department has warned that it will not be able to make all of its payments on June 5 if Congress does not act on the matter by then.