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June 5, 2023

Biden Signs Debt Ceiling Bill, Averting Default But Sacrificing Food Assistance, Climate Goals
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President Biden signed legislation raising the debt ceiling Saturday,
averting a first-ever default on the national debt.

President Joe Biden: "No one got everything they wanted, but the
American people got what they needed. We averted an economic crisis, an
economic collapse."

The deal comes after drawn-out negotiations between Biden and Republican
leaders, whom Democrats blasted for taking the economy hostage to force
spending cuts. The agreement cuts food assistance for hungry people and
fast-tracks the fracked gas Mountain Valley Pipeline, while protecting
tax cuts for the rich and enriching defense contractors. We'll have more
on this story after headlines.


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