Joe Biden officially signs debt ceiling legislation

After a month of uncertainty, the debt ceiling negotiations reached a successful conclusion and both houses of Congress finally gave their approval. On Saturday, President Joe Biden officially signed the legislation into law and released a video showing him adding his long-awaited signature while inviting Washington to turn the page. "Now, we continue to work to build the strongest economy in the world," he wrote.

"I just signed into law a bipartisan budget agreement that prevents a first-ever default while reducing the deficit, safeguarding Social Security, Medicare, and Medicaid, and fulfilling our scared [sic] obligation to our veterans." Biden wrote on Twitter about the video mentioned above.

Biden went on national television last Friday, June 2, to celebrate the debt ceiling deal that prevented the United States from defaulting. In his 15-minute speech, he praised congressional leaders, especially Kevin McCarthy, Patrick McHenry and Garrett Graves. "We were able to get along and get things done. We were completely honest and respectful of each other. Both parties acted in good faith and both kept their word," he said.

He also had words for the other congressional leaders, whom he named only by last name: Jeffries, Schumer and McConnell. According to Biden, they knew how to "put the good of the country ahead of politics," managing to overcome "an economic crisis, an economic collapse, while at the same time" slashing spending and lowering the deficit for the first time.

Biden said the agreement is good news because "no one got everything they wanted, but the American people got what they needed." He also promised at the time to enact the legislation on Saturday, June 3.

The passage of the legislation through Congress was swift but no less intense, as it highlighted the tensions within both parties. The House of Representatives was the first to approve the bill by a vote of 314 in favor and 117 against. A day later, the Senate had its turn, passing the legislation with 63 in favor and 36 against.

Biden and his team had first refused to negotiate with the Republicans, but in the face of the impending default in June, they decided to sit down at the table. The leadership of both parties praised the agreement, although they acknowledged that it was not perfect for anyone.