After weeks of political confrontations with Republicans, US President Joe Biden unveiled a law on Saturday that eliminates the risk of US bankruptcy, the White House announced, AFP and Agerpres reported.

This week, the U.S. Congress passed legislation to suspend the U.S. debt ceiling, which was set at $31.4 trillion, until January 2025 (right after the presidential election).

In negotiations with Republicans, the majority in the House of Representatives, Democrats accepted certain budget targets instead. In the end, each camp claims victory, the Republicans that they managed to freeze some spending, and the Democrats that they managed to keep most of the social programs and large investment projects, as well as military spending, including those that were aimed at supporting Ukraine .

President Biden thanked congressional leaders, including House Republican Leader Kevin McCarthy, for their “cooperation” in reaching this compromise, which avoided a “catastrophic” situation for the United States.

Instead, McCarthy criticizes the radical Republican camp around former President Donald Trump, who, like Joe Biden, is seeking a new presidential mandate in next year’s election and believes the House Republican leader has made too many concessions to Democrats. .