Biden urges lawmakers to act on U. S. debt ceiling

U. S. Joe Biden met with business leaders on debt ceiling. Biden reiterated that raising the debt limit is about paying what the Americans owe.


Biden also stressed that any action regarding raising the debt limit should be bipartisan. Senate Republicans are threatening to stop the debt limit increase by using the filibuster.

Defaulting on the debt will happen after October 18 with risks the market taking and would likely lead to a lowering of the US credit rating with potential government shutdown.