US President Joe Biden met with Republican leaders in Congress but failed to reach an agreement on the debt limit. Kevin McCarthy claims that he “didn’t see any new movement.”
US President Joe Biden met on Tuesday with Republican leaders in Congress to negotiate the federal debt limit, but the impasse continues.
Leaving the meeting with Biden, the Republican Speaker of the House of Representatives, Kevin McCarthy, stated that “I didn’t see any new movement” to end the months-long stalemate by raising the borrowing capacity limit to prevent a potential unprecedented US default.
Speaking at the White House after the Oval Office meeting, McCarthy said he would continue to press Biden to make public spending cuts part of a deal to raise the debt limit. “I asked the president a simple question: ‘Do you think there is any way we can make savings?’” McCarthy said.
Biden has long denied that the debt limit negotiation could be used to have a budget impact, which he reiterated during the meeting Tuesday, according to a White House source.
The meeting paired McCarthy and House Minority Leader Democrat Hakeem Jeffries, Senate Majority Democrat Chuck Schumer and Senate Minority Republican Mitch McConnell with Biden.
With the government at risk of not being able to meet its financial obligations after June 1, raising the specter of economic chaos, Republicans are seeking sharp cuts in federal spending in exchange for authorizing an increase in the debt limit.
But Biden, for his part, has insisted on his opposition to holding the “good name” and “good faith” of the United States “hostage” to the negotiations, as well as his willingness to hold budget negotiations, but only after the breach. it is no longer a threat.
Source: Observadora
