The US Capitol is visible on Saturday. President Biden is seeking an agreement with the Republicans as the country has a June 1 deadline to raise the country’s borrowing limit.
Jose Luis Magana/AP
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Jose Luis Magana/AP
The US Capitol is visible on Saturday. President Biden is seeking an agreement with the Republicans as the country has a June 1 deadline to raise the country’s borrowing limit.
Jose Luis Magana/AP
Negotiations for a bipartisan deal to increase the United States debt limit appear to have stalled to the point that the Biden administration and Republicans in the House of Representatives have focused their public efforts on blaming the other side for the stalemate rather than working towards a final deal.
President Biden and Speaker of the House Kevin McCarthy are about to speak on the phone as Biden flies back to Washington from the G-7 summit in Japan.
Speaking after the conclusion of the G-7, Biden repeated his accusations that Republicans were to blame for the impasse. “It’s time for the other side to step back from extreme positions, because much of what they have already proposed is simply, frankly, unacceptable,” he said.
Biden said he was willing to cut spending, but said Republicans should consider boosting tax revenue. Republicans in the House of Representatives are largely opposed to any tax increase, the main tool Biden has relied on in his proposed budgets to reduce the deficit.
Biden said he expected to speak to McCarthy aboard Air Force One. “My guess is that he will want to deal directly with me to make sure we are all on the same page,” Biden said.
McCarthy described the White House as “moving backwards” in the negotiations.
“The president has turned back,” McCarthy said on Sunday Morning Fox News Futures. “In fact, he offered to spend billions more next year than we spend this year.”
“All the discussions that we had before, I felt that we came to the point that we could agree together, that we would have a compromise. We will not get what our bill says – we will find a compromise,” he added. “Now the president, although he was abroad, fought to switch places. I do not understand this”.
President Joe Biden answers questions about US debt limits ahead of a bilateral meeting with Australian Prime Minister Anthony Albanese on the sidelines of the G7 summit in Hiroshima, Japan on Saturday, May 20, 2023.
Susan Walsh/AP
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President Joe Biden answers questions about US debt limits ahead of a bilateral meeting with Australian Prime Minister Anthony Albanese on the sidelines of the G7 summit in Hiroshima, Japan on Saturday, May 20, 2023.
Susan Walsh/AP
Biden says 14th Amendment issues ‘unresolved’
Asked about applying the 14th Amendment to the Constitution to avoid a default — an untested tool called for by the progressive wing of his party — Biden said he was unsure if the legal issues associated with such a move could be resolved in time to prevent a default. “This is an issue that I consider unresolved,” he said.
Treasury Secretary Janet Yellen reaffirmed Biden’s stance on the 14th Amendment, saying, NBC press meeting:”It doesn’t look like something that could be properly exploited in these circumstances, given the legal uncertainty surrounding this and given the tight timeline we’re in, so I sincerely hope that Congress will raise the debt ceiling.”
Yellen has repeatedly warned lawmakers that the US could run out of money to pay bills as early as June 1, which she says is a “tough deadline.”
“If the debt ceiling is not raised, it will be difficult to decide which bills will go unpaid,” she told NBC.
Senior Biden staffers are increasingly accusing House Republicans of being more interested in pleasing the right wing of their caucus than reaching a consensus on how to lower the deficit and raise the debt ceiling.
“Last night in the District of Columbia, the speaker’s team submitted a proposal that was a big step backwards and contained a set of extreme partisan demands that could never be passed by both houses of Congress,” White House press secretary Karine Jean-Pierre said. Statement issued early Sunday morning from Hiroshima.
According to a source familiar with the talks, the White House’s latest proposal to Republicans in the House of Representatives included a promise to keep defense and non-defense spending in next year’s budget at the same level as in previous fiscal years. But Republicans are pushing for cuts in non-defense spending.