“US Public Debt Crisis: President Urges Agreement with Republicans and May Cancel Asia Tour”

2023-05-09 23:06:00

After a meeting with the leaders of the American Congress, the President of the United States calls on the Republicans to find an agreement and affirms that it is “possible” that he cancels his tour in Asia because of the crisis.

“Nothing has changed”, but the discussion continues: Joe Biden and tenors of the opposition stuck to their positions on Tuesday on the American public debt, while a payment default threatens in the short term.

“I hope this president understands that as the leader of this nation, you cannot (…) hold the country hostage,” said Republican Kevin McCarthy after an interview in the Office. oval.

According to the Speaker of the House of Representatives, “nothing changed” after an hour-long exchange with the Democratic leader and three other Congress leaders.

But he signaled that the same protagonists would meet again on Friday, which was confirmed by Joe Biden, who wanted to be a little more optimistic during an exchange with the press.

Republicans and Democrats pass the buck

He spoke of a “productive” meeting and promised that he would do “everything in (his) power to avoid” a default by the world’s leading power, which never happened. This is “not an option”, he hammered.

The president even deemed it “possible”, if the blockage continues, to cancel a trip to take him in ten days to Japan then to Papua New Guinea and Australia in order to strengthen American alliances in the area. Asia Pacific.

The leader of the Senate Democrats Chuck Schumer, for his part, returned the courtesy to his Republican opponents, also accusing Kevin McCarthy of holding the debt ceiling “hostage”, because it conditions the vote on an increase in the debt ceiling to budget cuts.

This legislative manoeuvre, specific to the United States and which consists in increasing the maximum amount of authorized public debt, is essential to prevent the world’s leading power from finding itself, perhaps as of June 1 or in any case this summer, unable to pay its bills, officials and creditors.

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