WATCH LIVE: President Biden addresses nation on debt ceiling deal

– President Joe Biden celebrated a “crisis averted" in his inaugural speech to the nation from the Oval Office Friday evening, ready tothat eliminates the potential for a first-ever government default that would have sent shock waves through the U.S. and global economies.

“We’re cutting spending and bringing deficits down at the same time,” Biden said. “We're protecting important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy.” White House press secretary Karine Jean-Pierre said Friday that Biden was using the occasion to deliver his first address to the nation from behind the Resolute Desk in the Oval Office because “he just wanted to make sure that the American people understood how important it was to get this done, how important it was to do this in a bipartisan way.”

The Congressional Budget Office estimates it could actually expand total eligibility for federal food assistance, with the elimination of work requirements for veterans, homeless people and young people leaving foster care.

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