The White House said the debt ceiling will be suspended until January 1, 2025. Later, in response to a reporter's question, US President Biden said that the United States would not completely abolish the debt ceiling. This statement was made after he announced that he had reached a final agreement with House Speaker McCarthy on raising the debt ceiling. When a reporter asked if he thought the United States should completely abolish the debt ceiling, Biden replied: "No, I think abolishing the debt ceiling will cause more controversy." But Biden added that he would study "whether it is necessary to use the 14th Amendment in the next year or two to decide whether the debt ceiling needs to be set every year." (Jin Shi)