President Joe Biden says he and congressional leaders will likely resume talks on Tuesday at the White House over the debt limit as the nation continues to edge closer to its legal borrowing authority with no agreement in sight.
, the president said Sunday, as the nation continues to edge closer to its legal borrowing authority with no agreement in sight.so staff-level talks could continue before Biden and the four congressional leaders huddled for a second time. Administration and congressional officials said Sunday that a meeting has not been finalized, although Tuesday was the likeliest option as Biden returns to Washington on Monday and is scheduled to leave for the Group of 7 summit in Japan on Wednesday.
Aides said talks had continued throughout the weekend. But at least publicly, there was little indication that either the White House or House Republicans had budged from their initial positions. Biden has called on lawmakers to lift the debt limit without preconditions, warning that the nation’s borrowing authority should not be used to impose“We’ve not reached the crunch point yet,” Biden told reporters Saturday before flying to his beach home for the weekend.
McCarthy has insisted on using the threat of defaulting on the nation’s debts to wrangle spending changes, arguing that the federal government can’t continue to spend money at the pace it is now. The national debt now stands at $31.4 trillion. gave a similar warning Friday, saying there was a “significant risk” of default sometime in the first two weeks of next month.The CBO noted Friday that if the cash flow at the Treasury and the “extraordinary measures” that the department is now using can continue to pay for bills through June 15, the government can probably finance its operations through the end of July.
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