White House Press Release - Excerpts from Remarks by President Biden on Averting Default and the Bipartisan Budget Agreement

As Prepared for Delivery
June 2, 2023

Essential to all the progress we've made in the last few years is keeping the full, faith, and credit of the United States and passing a budget that continues to grow our economy and reflects our values as a nation.

And that's why I'm speaking to you tonight. To report on a crisis averted and what we are doing to protect America's future. Passing this budget agreement was critical. The stakes could not have been higher.

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No one got everything they wanted but the American people got what they needed. We averted an economic crisis and an economic collapse.

We're cutting spending and bringing deficits down. And, we protected important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy.