US Debt Ceiling: Biden Says He Will Sign Bill into Law on Saturday

President Joe Biden on Friday said he will sign the bill authorizing increased US government borrowing on Saturday, removing the “catastrophic” threat of default hanging over the world’s biggest economy.

“I’m going to sign tomorrow,” Biden said in an Oval Office address to the nation.

Without the bill, the country was expected to default as early as Monday and “nothing would have been more catastrophic,” he said.