The President of the United States and the leader of the House of Representatives held a “productive meeting” to try to raise the debt ceiling, but failed to reach an agreement.
“I think the tone tonight was better than any other time (…) I feel like it was productive,” Republican Kevin McCarthy said as he left the White Houseon Monday.
Still, McCarthy criticized the Democratic proposals that implied higher government spending, saying the United States “has a spending problem.”
however, the Conservative has said he will likely talk to Joe Biden every day until the debt deadlock is resolved.
For his part, Biden stressed that both ruled out the possibility of a suspension of payments and that the only way forward is a “bipartite agreement,” the White House said in a statement.
“While there are areas where we disagree, we will continue to discuss how to proceed,” the Democrat said.
Monday’s talks are the latest in a series of last-minute meetings between the top representatives of the two largest parties and the government to try to pass a debt ceiling hike before the country defaults.
The Treasury Department has estimated that this unprecedented situation could unfold as early as June 1 if Congress fails to reach an agreement before that date.
The United States has never defaulted on its debts, but the opportunity presents itself from time to time because, unlike other countries, the executive branch can only issue debt up to the limit set by Congress, which has the power has to raise the ceiling if so. choose, understand.
Biden decided to suspend a trip to Australia and New Zealand, after the summit of the group of the seven most industrialized countries in the world (G7) in Japan, to return to Washington earlier and continue negotiations.
Source: DN
