President Biden signs bill to raise debt limit ceiling

Potential economic disaster averted

WASHINGTON, D.C. (KYMA, KECY/CNN) - On December 16, a press release from the White House stated that President Joe Biden has signed a bill to raise the debt limit ceiling.

Earlier this week, Congress passed a bill to raise the national debt limit by $2.5 trillion.

This follows recent pricing inflations that has affected the United States.

The Senate voted to pass this legislation 50-49 and the House voted 221-209 on Tuesday and Wednesday respectively.

Economic disaster was nearly averted because of this new bill, as Treasury Secretary Janet Yellen warned Congress.