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Saturday, February 8, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Speaker McCarthy: No progress made in meeting with Biden on national debt ceiling – Reuters

“The participants repeated their positions, I did not notice any progress. The president said that the participants had to meet again. However, I made it very clear to the president that we only had two weeks left”, McCarthy said, citing the agency. After the meeting. RIA News .

According to him, the next round of negotiations will take place this Friday.

Passions for raising the debt ceiling in the United States, which now stands at $31.4 trillion, have been smoldering for almost six months. The Democratic Party and President Joe Biden are advocating a big increase in the government borrowing threshold to fund a number of social programs and earn extra points ahead of the next presidential election.

Republicans, led by Speaker of the US House of Representatives Kevin McCarthy, believe it is necessary to raise the national debt ceiling so that it lasts only one year, and then with a reduction in budget spending. Then, a new debate on this subject will fall just at the height of the election campaign, and Biden will not be able, for example, to write off huge debts for the tuition fees of American students.

Earlier, the US Treasury Department warned it had no more emergency measures to buy time before the national debt default, which department chief Janet Yellen said could come in the first few days. of June.

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