2023-05-17 12:18:32
US President Joe Biden and the Republican leadership of the US Congress met at the White House on the 16th to negotiate a debt ceiling adjustment, but no conclusion was reached.
But while the White House and Republicans have been cautiously optimistic about the future, House Speaker Kevin McCarthy told reporters the two sides are still a long way off.
President Biden said that the negotiations were “good and productive” after conducting related negotiations for about an hour with the leadership of the Congressional Republican Party in the Oval Office of the White House.
President Biden also said, “I am optimistic that if both sides negotiate in good faith, there will be a way to a responsible and bipartisan budget agreement,” the White House said.
McCarthy said he believed a deal could be reached by the end of the week.
When asked about the possibility of the US falling to the ‘fiscal cliff’, Chairman McCarthy replied, “The good thing is that we have decided to leave default (default) out of the question.”
Republicans have maintained that raising the federal debt ceiling requires significant cuts in federal spending.
Previously, US Treasury Secretary Janet Yellen warned that the US could fall into default on the 1st of next month.
Meanwhile, President Biden, who is leaving for Japan on the 17th to attend the G7 summit held in Hiroshima, Japan on the 19th and 21st, cancels his originally scheduled visits to Papua New Guinea and Australia and advances the schedule to return to Korea on the 21st. .
In this regard, Australian Prime Minister Anthony Albanage said at a press conference on the 17th, “The quad (US, Japan, Australia, India) summit will not be held in Sydney next week,” and instead, a meeting will be held in Japan separately from the G7 summit. said.
VOA News
* This article referenced Archyde.com·AFP.
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