As the government races to meet a looming deadline to raise America's debt limit, President Joe Biden and House Speaker Kevin McCarthy plan to meet in-person on Monday.
McCarthy emerged from that conversation sounding optimistic and was careful not to criticize Biden's trip, as he had before. He did caution, “There’s no agreement on anything.”
Biden said “it's time for Republicans to accept that there is no deal to be made solely, solely, on their partisan terms.” He said he had done his part in attempting to raise the borrowing limit so the government can keep paying its bills, by agreeing to significant cuts in spending. “Now it’s time for the other side to move from their extreme position."
Republicans want to roll back next year's spending to 2022 levels, but the White House has proposed keeping 2024 the same as it is now, in the 2023 budget year. Republicans initially sought to impose spending caps for 10 years, though the latest proposal narrowed that to about six. The White House wants a two-year budget deal.
GOP lawmakers are also seeking cuts in IRS money and, by sparing Defense and Veterans accounts from reductions, would shift the bulk of spending reductions to other federal programs. “I think that we can reach an agreement,” Biden said, though he added this about Republicans: “I can’t guarantee that they wouldn’t force a default by doing something outrageous.”
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Biden, McCarthy to meet Monday for debt limit talks after 'productive' callPresident Joe Biden says Republicans in the U.S. House must move off their 'extreme positions' on the now-stalled talks over raising America's debt limit and that there will be no agreement to avert a catastrophic default only on their terms.
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Biden, McCarthy to meet Monday for debt limit talks after ‘productive’ callGOP lawmakers are holding tight to demands for sharp spending cuts, rejecting the alternatives proposed by the White House for reducing deficits.
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Biden, McCarthy to meet Monday for debt limit talks after 'productive' callPresident Joe Biden planned on Sunday to speak directly with House Speaker Kevin McCarthy on Monday, hoping to salvage talks to raise the debt limit that have stalled in recent days while he was abroad at the Group of Seven summit.
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Biden and McCarthy to meet on Monday as debt ceiling talks resume By Reuters*BIDEN AND MCCARTHY TO MEET ON MONDAY AS DEBT TALKS RESUME 🇺🇸 🇺🇸
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McCarthy says he'll meet with Biden Monday after 'productive' debt ceiling callAfter he spoke to President Joe Biden by phone on Sunday, House Speaker Kevin McCarthy said that he thinks both sides can find some 'common ground.'
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Biden, McCarthy to meet Monday for debt ceiling talks as default deadline loomsPresident Joe Biden says Republicans in the U.S. House must move off their “extreme positions” on the now-stalled talks over raising America’s debt limit and that there will be no agreement to avert a catastrophic default only on their terms.
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