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Biden signs bill raising U.S. debt limit, averting default By Reuters


© Reuters. FILE PHOTO. U.S. President Joe Biden hosted a virtual coronavirus (COVID-19), Summit at the United Nations General Assembly in Washington (U.S.A), September 22, 2021. REUTERS/Evelyn Hockstein

WASHINGTON, (Reuters) – U.S. President Joe Biden signed Thursday legislation temporarily increasing the government’s borrowing limit at $28.9 trillion. This delayed the debt default deadline to December.

The U.S. Treasury was estimating that the country would soon run out of cash without the raising in its debt ceiling.

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