2023-05-12 02:13:00
Debt Ceiling Negotiations Delayed McCarthy Criticizes Biden: No Plan, No Clue
China News Service, May 12 (Xinhua) According to the Associated Press, the White House and congressional aides said that US President Biden was originally scheduled to negotiate with congressional leaders on the debt ceiling on the 12th local time. At present, the talks have been postponed. to next week.
It was previously reported that on the 9th, Biden held negotiations with the Speaker of the House of Representatives and Republican McCarthy on the debt ceiling issue. The talks did not make substantive progress at that time, and the two sides agreed to meet again on the 12th.
According to reports, after the meeting on the 9th, White House staff and congressional leaders have been communicating privately. Although most people familiar with the matter said that these exchanges have made progress, McCarthy on the 11th sharply criticized Biden and Senate Majority Leader Schumer.
McCarthy believes that Biden and Schumer have stalled on the “number one issue”, “they have no plan, no proposed savings, and no clue.” McCarthy said, “Obviously, President Biden doesn’t want to make a deal, he wants to default on (the debt).”
Afterwards, he also said he “didn’t think there was enough progress to bring the leaders back together”, but added that he looked forward to an interview next week.
In January of this year, the U.S. federal government’s debt reached the statutory debt ceiling of $31.4 trillion, and the U.S. Treasury Department immediately took unconventional measures to avoid government debt default.
U.S. Treasury Secretary Yellen has repeatedly sent letters to key members of Congress, saying that the Treasury Department may exhaust debt repayment measures before June, and that failure to raise the debt ceiling will lead to a “sharp economic downturn” in the United States.
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