Biden avoids default with debt limit bill signing.

President Joe Biden signed a bill suspending the US government's $31.4tn debt ceiling, avoiding a first-ever default with just two days to spare. The House of Representatives and the Senate passed the legislation this week after Biden and House of Representatives Speaker Kevin McCarthy reached an agreement following tense negotiations. The Treasury Department had warned it would be unable to pay all its bills on Monday if Congress had failed to act by then. The bill signing marked a low-key, symbolic end to a crisis that vexed Washington for months, forced Biden to cut short an international trip in Asia and threatened to push the United States to the brink of an unprecedented economic crisis.