Biden expected to sign budget deal to raise debt ceiling

President Joe Biden is expected to sign legislation to raise the debt ceiling on Saturday, preventing a potential crisis that would have led to the country's first-ever government default and sent shock waves through the U.S. and global economies. The legislation was passed by the Senate late Thursday night after being approved by the House the previous night. “Passing this budget agreement was critical. The stakes could not have been higher,” Biden said from the Oval Office on Friday evening.