Biden's Debt Ceiling Deal Prevents Economic Collapse

President Joe Biden has praised Republicans for their "good faith" in raising the US borrowing limit, which he said averted "economic collapse". The bill suspends the debt limit until 1 January 2025 and caps non-defence spending, while expanding work requirements for food and healthcare assistance, amongst other provisions. The legislation will result in $1.5tn in savings over a decade. The deal passed with bipartisan support in Congress, though some Republicans and Democrats had reservations about the package.