On Friday, US President Joe Biden, speaking to reporters ahead of a meeting on US investment at the White House, sharply criticized a group of far-right Congressional Republicans for their refusal to vote for a debt ceiling federal higher.
“The last thing this country needs… is a manufactured crisis,” Biden said.
The announcement signals that the White House will not compromise when it meets with bipartisan Senate and House leaders on May 9.
Republicans control the House of Representatives, where they have a narrow majority, but their opinions are divided on raising the national debt ceiling.
Trump supporters, the MAGA Republicans, are pushing for “draconian” budget cuts and tying their vote on the debt ceiling to those cuts.
Biden said Friday he believed there was no direct connection between the two issues.
“These two concepts are totally independent. Whether you pay your debt or not has nothing to do with your budget,” the White House chief said. Biden thinks that instead, Republicans and Democrats should “discuss our vision for the future” in front of the American people.
On May 2, US Treasury Secretary Janet Yellen informed Congress that the United States could default on its debt as early as June 1 unless lawmakers raise or suspend the US debt ceiling. here this date. Joe Biden on the same day urged Congress to take action to avoid an unconditional default.
On April 26, the House of Representatives passed a bill to raise the national debt ceiling, but the bill contains provisions for a sharp reduction in health insurance coverage for socially disadvantaged groups, a reduction in tax credits for solar energy and an overall reduction in expenses. by about $4.5 trillion, or 22%, in exchange for a $1.5 trillion increase in the US debt ceiling.
The bill has no chance of being approved by the Democratic-controlled Senate. The White House has also previously said Biden would veto the bill if it passes.
After the $31.4 trillion borrowing limit was reached on Jan. 19, Yellen told Congress that the Treasury would support debt payments, federal benefits and other spending through relief measures. cash management emergency.
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