The Senate easily passed the debt ceiling bill late last night as President Biden, Hakeem Jeffries, Chuck Schumer and the Democrats successfully limited the damage from the GOP-caused debt ceiling hostage crisis.
The Senate voted Thursday night to pass a bill that would extend the debt ceiling for two years and establish a two-year budget agreement on a broad bipartisan vote.
The vote was 63-36.
Having already cleared the House on Wednesday, it now goes to President Joe Biden, who is expected to sign it and avert an economically catastrophic debt default with mere days to spare before Monday's deadline.
The agreement was brokered by Biden, a Democrat, and House Speaker Kevin McCarthy, a Republican, after a lengthy stalemate and a frenzied few weeks of negotiations as the U.S. neared the cliff. Biden will address the nation on the bill at 7 p.m. ET Friday.
"America can breathe a sigh of relief. Because in this process we are avoiding default," said Senate Majority Leader Chuck Schumer, D-N.Y. "The consequences of default would be catastrophic."
Senate Minority Leader Mitch McConnell, R-Ky., championed the bill as "an urgent and important step in the right direction — for the health of our economy and the future of our country."
The keys here were Democratic messaging that the GOP was wholly responsible for this mess, pounding away at the fact that the same GOP raised the debt ceiling three times under Trump, and that Wall Street donors didn't exactly want an economic collapse as much as the GOP did.
President Biden held fast and the Dems got in array.
Remember this the next time somebody tries to bring up Biden's "cognitive issues".
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