US President Joe Biden held a meeting on the 9th (local time) with representatives of Congress, including House Speaker Kevin McCarthy, to address concerns about default (default) due to the delay in raising the debt ceiling.
However, this meeting ended without reaching an agreement after confirming only the difference in position between the two sides. President Biden plans to meet with them again on the 12th to discuss a solution.
President Biden held a discussion at the White House for about an hour from around 4:00 p.m. on the same day at the White House about the debt ceiling with four congressional leaders, including Senate Democratic Leader Chuck Schumer, Senate Republican Leader Mitch McConnell, House Speaker McCarthy, and House Democratic Leader Hakim Jeffries. proceeded
The U.S. government believes that a default situation could occur on the 1st of next month at the earliest, and is in a position that Congress should raise the federal government debt ceiling as soon as possible. On the other hand, the opposition Republican Party is engaged in a tug-of-war with the ruling party, saying that raising the debt ceiling must be accompanied by spending cuts.
In response, President Biden met directly with Congressional leaders, including representatives of the Republican Party and the House of Representatives, to seek a solution, but it was reported that an agreement could not be reached in the first meeting.
According to foreign media such as the Associated Press and CNN, House Speaker McCarthy met with reporters after the meeting and said, “I didn’t see any alternative,” and said, “The president should negotiate over the next two weeks to solve the problem and not put Americans on the edge.” .
On the other hand, President Biden reaffirmed his existing position that he was not the subject of negotiations after the meeting, saying, “The default is not a matter of choice.”
President Biden said, “I am ready to hold separate discussions on budget and spending priorities with congressional leaders. But not under the threat of default.”
Democratic Senator Schumer also said, “Chairman McCarthy is presenting a plan to hold default hostage rather than a plan to prevent default. That complicates things,” he said.
Currently, the House is dominated by Republicans, so House Speaker McCarthy’s consent is essential to raise the debt ceiling.
However, Republicans are at odds with the ruling party, arguing that raising the debt ceiling should be accompanied by cuts in the federal government budget. Previously, the U.S. House of Representatives passed a bill that cut the federal budget by $130 billion in exchange for raising the debt ceiling to $32.9 trillion.
President Biden and House Speaker McCarthy decided to meet again on the 12th to continue further discussions.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.