United States debt ceiling: A new meeting between Biden and McCarthy ends without agreement and talks continue to avoid default

With Biden McCarthy (REUTERS / Leah Millis)

President of the United States, Joe Bidenand the Speaker of the House of Representatives, Kevin McCarthyThey met today, Monday Without reaching an agreement The White House considers the spending limit and possible expansion of the debt ceiling important.

In a post-meeting statement, Biden said they had not reached a firm conclusion and would continue to work with their teams to reach it, even if they had differences of opinion.

“I have concluded a constructive meeting with President McCarthy on preventing default and avoiding disaster for our economy. We reiterate that default is not on the table and the only way forward is to move in good faith towards a bilateral agreement.He promised.

The president added: “There are differences of opinion, and the president and I, and your top negotiators, President McHenry and Congressman Graves, and our staff will continue to discuss the way forward.”

Speaking to reporters after the match, McCarthy said, “”Production”, an adjective he has used in recent weeks to describe discussions with the president. However, their differences are “always the same,” he said: “I think (…) that we should spend less than what we spent last year.”

Biden cuts international tour to address debt crisis (Reuters)

Despite the impasse, McCarthy considered it “The tone of the conversation was the best of all the discussions we had.”. “We’ve both been doing this for a long time, and what our differences are, we put our visions out there, and I think it’s useful in that way,” he said.

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In statements before the meeting, Biden was “optimistic” and considered a deal possible, although it has yet to be reached. The president hopes to reach a bipartisan resolution in both Congress and the Senate, two chambers that are “practically split down the middle” and therefore require “bipartisan agreement” to approve any measure.

Regarding expenses, Biden has canceled part of his international obligations to negotiate the issue in person, saying that in his opinion, “it is also necessary to consider income.” “So yes, we have some disagreements, but I think we can go where we need to go, and we both have a big responsibility.”, he sentenced.

Both teams of politicians must continue to work to reach a deal ahead of the June 1 deadline for the US to pay off its debt. Otherwise, according to US Treasury Secretary Janet Yellen, it would cause “economic and financial disaster”, unleashing a global recession and threatening to undermine US leadership.

Any deal must be approved by the House of Representatives, where Republicans currently hold a majority, while the Senate is controlled by Democrats.

(with information from EP)

Continue reading:

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Eden Hayes

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