In Oval Office speech, Biden says default “crisis averted”

President Biden is cheering a budget deal that lifts the federal debt limit and averts a government default. In his first-ever speech from the Oval Office, the president told the nation that House and Senate passage of the budget and debt ceiling package was critically important. He applauded the bipartisan effort by members of Congress. Mr. Biden said he would sign the bill into law on Saturday — two days before the government default deadline.