Biden hails debt ceiling deal as 'crisis averted'

President Joe Biden has said the raising of the US borrowing limit is a "crisis averted", in his first address to the nation from the Oval Office.

He pledged to sign the bill into law on Saturday after it cruised through Congress with bipartisan support.

The Democratic president voiced rare praise for his Republican counterparts, saying they "operated in good faith".

He said a US default on its $31.4tn (£25tn) debt after next week's deadline would have been "catastrophic".