Transcript for Biden to address nation after debt crisis averted
207 DEAD. MEANWHILE BACK HERE IN
THE US TONIGHT AND PRESIDENT
THE US TONIGHT AND PRESIDENT
BIDEN BEFORE THE CAMERAS A SHORT
BIDEN BEFORE THE CAMERAS A SHORT
TIME AGO IN AN OVAL OFFICE
TIME AGO IN AN OVAL OFFICE
ADDRESS TO THE NATION HERALDING
ADDRESS TO THE NATION HERALDING
THE DEBT CEILING DEAL THAT
THE DEBT CEILING DEAL THAT
CLEARED CONGRESS WITH BYPASS
CLEARED CONGRESS WITH BYPASS
THAN SUPPORT, ARGUING NEITHER
THAN SUPPORT, ARGUING NEITHER
SIDE GOT EVERYTHING THEY WANTED
SIDE GOT EVERYTHING THEY WANTED
. HERE'S OUR CHIEF WHITE HOUSE
. HERE'S OUR CHIEF WHITE HOUSE
CORRESPONDENT, MARY BRUCE
CORRESPONDENT, MARY BRUCE
TONIGHT ON THIS VOTE TONIGHT
TONIGHT ON THIS VOTE TONIGHT
AFTER THE SENATE QUICKLY PUSHED
AFTER THE SENATE QUICKLY PUSHED
THROUGH THAT DEAL TO LIFT THE
THROUGH THAT DEAL TO LIFT THE
DEBT LIMIT AND PAY OFF THE
DEBT LIMIT AND PAY OFF THE
NATION'S BILLS, THE BILL IS
NATION'S BILLS, THE BILL IS
PASSED NARROWLY AVOIDING AN
PASSED NARROWLY AVOIDING AN
ECONOMIC DISASTER. THE PRESIDENT
ECONOMIC DISASTER. THE PRESIDENT
TONIGHT TOUTING THAT BYPASS AN
TONIGHT TOUTING THAT BYPASS AN
EFFORT IN HIS FIRST OVAL OFFICE
EFFORT IN HIS FIRST OVAL OFFICE
ADDRESS. IT WAS CRITICAL TO
ADDRESS. IT WAS CRITICAL TO
REACH AN AGREEMENT. AND IT'S
REACH AN AGREEMENT. AND IT'S
VERY GOOD NEWS FOR THE AMERICAN
VERY GOOD NEWS FOR THE AMERICAN
PEOPLE. NO ONE GOT EVERYTHING
PEOPLE. NO ONE GOT EVERYTHING
THEY WANTED, BUT THE AMERICAN
THEY WANTED, BUT THE AMERICAN
PEOPLE GOT WHAT THEY NEEDED. WE
PEOPLE GOT WHAT THEY NEEDED. WE
AVERTED AN ECONOMIC CRISIS, AN
AVERTED AN ECONOMIC CRISIS, AN
ECONOMIC COLLAPSE. BOTH SIDES
ECONOMIC COLLAPSE. BOTH SIDES
OPERATED IN GOOD FAITH AND BOTH
OPERATED IN GOOD FAITH AND BOTH
SIDES KEPT THEIR WORD. THE BILL
SIDES KEPT THEIR WORD. THE BILL
CUTS THE DEFICIT BY $1.5
CUTS THE DEFICIT BY $1.5
TRILLION OVER TEN YEARS,
TRILLION OVER TEN YEARS,
SUSPENDS THE DEBT LIMIT FOR THE
SUSPENDS THE DEBT LIMIT FOR THE
NEXT TWO YEARS, UNTIL AFTER THE
NEXT TWO YEARS, UNTIL AFTER THE
PRESIDENTIAL ELECTION. AND
PRESIDENTIAL ELECTION. AND
IMPOSES NEW WORK REQUIREMENTS
IMPOSES NEW WORK REQUIREMENTS
FOR SOME AMERICANS RELYING ON
FOR SOME AMERICANS RELYING ON
FOOD ASSISTANCE PROGRAMS. IT
FOOD ASSISTANCE PROGRAMS. IT
WILL ALSO END THE PAUSE ON
WILL ALSO END THE PAUSE ON
REPAYING STUDENT LOANS. BUT THE
REPAYING STUDENT LOANS. BUT THE
ECONOMY IS NOT OUT OF THE WOODS
ECONOMY IS NOT OUT OF THE WOODS
YET. TONIGHT ONE OF THE
YET. TONIGHT ONE OF THE
COUNTRY'S MAJOR CREDIT AGENCIES
COUNTRY'S MAJOR CREDIT AGENCIES
SAYS THE US IS STILL AT RISK OF
SAYS THE US IS STILL AT RISK OF
A CREDIT RATING DOWNGRADE, WHICH
A CREDIT RATING DOWNGRADE, WHICH
COULD MAKE BORROWING MORE
COULD MAKE BORROWING MORE
EXPENSIVE AND SEND THE STOCK
EXPENSIVE AND SEND THE STOCK
MARKET TUMBLING. THE AGENCY
MARKET TUMBLING. THE AGENCY
CITING THE REPEATED POLITICAL
CITING THE REPEATED POLITICAL
STANDOFFS AROUND THE DEBT LIMIT.
STANDOFFS AROUND THE DEBT LIMIT.
NOW THE BILL TONIGHT IS STILL
NOW THE BILL TONIGHT IS STILL
MAKING ITS WAY TO THE
MAKING ITS WAY TO THE
PRESIDENT'S DESK. BIDEN HAS SAID
PRESIDENT'S DESK. BIDEN HAS SAID
HE WILL SIGN IT AS SOON AS
HE WILL SIGN IT AS SOON AS
POSSIBLE, LIKELY TOMORROW.
POSSIBLE, LIKELY TOMORROW.
THAT'S TWO DAYS BEFORE THE
THAT'S TWO DAYS BEFORE THE
DEFAULT DEADLINE
This transcript has been automatically generated and may not be 100% accurate.