Even if the federal government can narrowly avoid default, coming this close to the brink could take a toll on the economy.
sounded hopeful there was a deal to be made just last week, talks appear to have broken down over the last couple days.
Both sides are accusing the other of backsliding in recent talks. Biden — who has been at the G-7 conference in Hiroshima, Japan, the last several days — accused Republicans of going backwards on certain points of negotiation. McCarthy, in turn,issued Saturday night, White House Press Secretary Karine Jean-Pierre said that “the Speaker’s team put on the table an offer that was a big step back and contained a set of extreme partisan demands that could never pass both houses of Congress.
“I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistance at risk for nearly one million Americans,” Biden said. Biden has signaled he is willing to make certain spending cuts, but he blasted Republicans for refusing to allow increases in tax revenue in order to decrease future budget deficits. The White House has also agreed to spending caps, but the two sides remain divided on how long those spending caps will be in place. Republicans want six years while the White House has offered two years.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ted Cruz accuses Biden of 'scaremongering' on debt ceiling as Biden complains of 'MAGA Republicans'Sen. Ted Cruz says Joe Biden doesn't want to negotiate over the debt ceiling, argues he would rather blame Republicans to appease the radical Democrats.
Read more »
Biden says 'MAGA Republicans' could use default to sink his reelectionHouse Republicans could use a default to try and win the White House next year, the president said in Japan.
Read more »
Biden says he won't agree to bipartisan debt deal solely on Republicans' terms By Reuters*BIDEN SAYS REPUBLICAN DEBT CEILING OFFER 'UNACCEPTABLE' *BIDEN SAYS HE WON'T AGREE TO BIPARTISAN DEBT DEAL SOLELY ON REPUBLICANS' TERMS 🇺🇸🇺🇸
Read more »
Biden administration blames airlines for delays, cancellations; downplayed FAA's lack of staffingWhile President Joe Biden's administration publicly hammered airlines for flight delays and cancellations last summer, behind the scenes Federal Aviation Administration officials were well aware that their own agency also bore responsibility for disrupting thousands of flights, according to previously unreported internal FAA records
Read more »
PolitiFact - House Republicans’ findings about the Biden family’s foreign business practices, explainedNewly released bank records show that Biden family members received more than $10 million from foreign companies during and after President Joe Biden’s vice presidency. They didn’t prove that Hunter Biden or other Biden family members violated the law.
Read more »
House Republicans fear Biden’s executive order boosting labor unions will increase construction costsRepublicans are concerned Biden's executive order boosting labor unions may increase construction costs for federal projects
Read more »