Biden Provides Oval Office Address as US Averts Default
President Biden will deliver a rare Oval Office speech Friday night following congressional approval of legislation narrowly averting the economic disaster of a first-ever national debt default.
The legislation, known as the Bipartisan Budget Agreement, passed the Senate late Thursday after receiving widespread support in the House this week. It suspends the debt ceiling for two years and cuts spending.
Mr Biden is expected to sign the bill before his remarks on Friday at 7pm, just three days before the Treasury Secretary said the government’s ability to pay its debt would expire, a situation economists predicted it would cause worldwide unrest.
The president and lawmakers had expressed optimism for weeks that they would reach an agreement to prevent that outcome, but deep disagreements between Democrats and Republicans kept the country — and the world — on edge until the votes were cast in both chambers.
Presidents often reserve the Oval Office for speeches to the nation about war, economic crises, or natural disasters. President Ronald Reagan made gloomy remarks from the Oval Office about the explosion of the space shuttle Challenger in 1986. President Donald J. Trump announced pandemic restrictions from the Oval Office in early 2020.
Mr Biden’s decision to use the same venue on Friday underscores how close he believes the two sides were to economic disaster.
White House officials were coy about what Mr. Biden intended to say in his remarks. But he has said on several occasions that he hoped to find a way to avoid a similar situation in the future and he cited a section of the 14th Amendment to the Constitution that says the United States’ guilt “is not in doubt will be drawn”.
Some legal experts believe that a president could use that passage to override the legal debt limit and thus avoid the regular clashes between the parties. Mr Biden said last month he hoped to “find a rationale to take it to court to see if the 14th Amendment is indeed something that could stop it.”
On Sunday he said, “That’s another day.”
In the Oval Office speech, Mr Biden also faced the anger of some progressives in his party that he agreed to too many Republican demands during negotiations.
Some Democratic lawmakers voted against the debt ceiling legislation because of new job requirements it imposes on some food aid recipients. White House officials have argued that the legislation also removes work requirements for others, including the homeless and veterans. But Democratic critics remain angry.
The president also angered some environmentalists by agreeing to build a natural gas pipeline through West Virginia and Virginia. Critics say the 300-mile Mountain Valley Pipeline will harm wildlife and the environment as it cuts through the Appalachian Trail.
For Mr. Biden, who is running for a second term as president, the debt ceiling agreement helps avoid undermining the strong economy, which is a major selling point for his campaign. In his remarks, he will likely talk about strong job growth during his first two years in office.
But his political advisers should also be concerned about maintaining the support of the coalition of voters that put him in office in 2020, some of whom have expressed disappointment with his achievements on climate, criminal justice and other areas.