Watch live as President Biden speaks about need to raise US debt ceiling

President Biden is delivering remarks on the debt ceiling Monday, as the US rapidly approaches its debt limit, risking default.

Treasury Secretary Janet Yellen has warned lawmakers that the US will reach its debt ceiling on October 18th with other officials warning of serious problems if the US can’t suspend or raise the debt limit.

The president is speaking on the matter as his legislative agenda remains in limbo, after liberal and moderate Democrats could not reach an agreement over a massive spending bill to expand the social safety net.