Biden says debt ceiling deal was critical, but no one got everything they wanted.

President Biden Addresses Nation on Debt Ceiling Negotiations

“Essential to all the progress we’ve made in the last few years is keeping the full faith and credit of the United States and passing a budget that continues to grow our economy and reflects our values as a nation,”

“No one got everything they wanted, but the American people got what they needed. We averted an economic crisis and an economic collapse.”

President Joe Biden will be delivering a prime-time address at 7 p.m. from the Oval Office to discuss the recent debt ceiling negotiations. In his speech, he will emphasize that it was “critical” to reach an agreement to avoid a national default, even though neither party got everything they wanted.

The Importance of Passing the Budget Agreement

Biden’s comments highlight the importance of passing the budget agreement to protect America’s future. He notes that the stakes could not have been higher and that passing the agreement was essential to all the progress made in recent years. The budget agreement reflects the values of the nation and continues to grow the economy.

The President’s speech also emphasizes that the American people got what they needed, even though no one got everything they wanted. The agreement averted an economic crisis and collapse, and important priorities were protected, including Social Security, Medicare, Medicaid, veterans, and investments in infrastructure and clean energy.

Signing the Bill into Law

White House press secretary Karine Jean-Pierre confirmed that President Biden will not sign the bill into law on Friday evening but plans to sign it this weekend ahead of the June 5 “X-date.”

Watch President Biden’s Address

You can watch President Biden’s full address at 7 p.m. below.

This is a developing story, and we will update it with more information as it becomes available.