Negotiations between President Biden and Congress on the debt ceiling

2023-05-24 15:10:56, Kosova & Bota CNA

Debt ceiling negotiations have been stalled by a classic problem that has plagued Washington before: Republicans led by House Speaker Kevin McCarthy want to cut federal government spending, while President Joe Biden and other Democrats oppose it. . Time is short to reach a deal until June 1, when the Treasury Department says the government risks defaulting on its financial obligations.

Negotiations between Democratic President Joe Biden's administration and lawmakers in the Republican-controlled House of Representatives over the government's debt limit will resume today.

The White House insists negotiations with Congress on raising the debt ceiling have been "productive," despite complaints from Republicans about a "lack of urgency" on the part of the Biden administration.

A day after House Speaker Kevin McCarthy and President Joe Biden met at the White House, White House press secretary Karine Jean-Pierre told reporters that "the issue is urgent, but it's not political. It has to do with the performance of duty to the American people".

"We have been very clear and have shown that the issue is urgent. For Republicans to say the White House is not showing any urgency is a ridiculous statement. We've been saying this for months. Congress must act, Congress must act, and we will continue to demand it."

The spokeswoman's comments follow comments by a top Republican negotiator, Rep. Patrick McHenry of North Carolina, who said he sensed a "lack of urgency" from the White House to resolve the budget issue in time to avoid a federal bankruptcy, potentially chaotic.

"I actually believe we can finally reach an agreement," said House Speaker Kevin McCarthy.

With just over a week left before the June 1 deadline, the Democratic president and the Republican president are facing the possibility of a financial crisis.

Failure to reach an agreement would be unprecedented and lead to turmoil in financial markets, causing economic pain at home and abroad./ VOA