Arab Press

بالشعب و للشعب
Saturday, May 18, 2024

"Confident" In Reaching Deal To Avert US Debt Default, Says Joe Biden

"Confident" In Reaching Deal To Avert US Debt Default, Says Joe Biden

"The leaders have all agreed we will not default," Joe Biden said in brief remarks at the White House, shortly before departing for the G7 meeting of world leaders in Japan.
President Joe Biden said Wednesday he is confident a deal can be reached with Republicans leaders to avert a potentially catastrophic US debt default as early as June 1.

"The leaders have all agreed we will not default," Biden said in brief remarks at the White House, shortly before departing for the G7 meeting of world leaders in Japan.

Biden and congressional leaders including House speaker Kevin McCarthy have held two rounds of face-to-face talks to try and reach an agreement to raise the US borrowing limit and thus allow the country to pay for its existing obligations.

After the latest negotiations on Tuesday ended without a breakthrough, McCarthy told reporters there was still "a lot of work to do" to break the high-stakes standoff with Democrat Biden over the debt ceiling.

Republicans continue to insist Biden must agree to significant spending cuts in exchange for their support to raise the ceiling, ignoring repeated Democratic calls for a "clean" increase of the borrowing limit with no strings attached.

Democrats have accused Republicans of using extreme tactics to push their political agenda ahead of the so-called "X-date" at which the United States starts defaulting on its debts because the government has run out of money.

Biden confirmed Wednesday that he was cutting short a wider tour to the Asia-Pacific region which included a meeting with the Australian premier and a stop in Papua New Guinea, and planned to return to Washington Sunday for "final" debt ceiling negotiations.

But he insisted once more that default was not an option.

"It would be catastrophic for the American economy and the American people if we didn't pay our bills," he said.

"America is not a deadbeat nation. We pay our bills," he added.
Comments

Oh ya 1 year ago
The Republicans will fold as they are the party that can not stand winning. The US is borrowing money now to pay the interest on the money they already owe. Just a matter of time before they become another Zimbabwe. But the goverment has this great plan of a CBDC and the average brain dead Americans will jump for that not understanding that the government has now got complete control over you then

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
FedEx Airlines Boeing 767 cargo plane lands on nose at Istanbul Airport
Netanyahu's Firm Stance Amid Rafah Hostage Talks
Blinken on Gaza: Ceasefire is Key to Humanitarian Crisis Resolution
UAE Prime Minister Announces $544M for Home Repairs after Historic Rains, Vows to Learn from Experience
Isfahan Explosions: US Media Reports Israel's Retaliatory Strikes on Iran
Four Dead, Dubai Airport Disrupted: UAE's Heaviest Rains in 75 Years Cause Flooding and Flight Chaos
Dubai Airports: Stranded Tourists 'Living on Duty Free,' Desperate for Food and Water
Heavy Rains Cause Flooding in UAE and Oman: 18 Lives Lost
You can be a very successful player, but a player with character is another level!
Unprecedented Flooding Disrupts Dubai
Ajman Crown Prince Declares Remote Work Day for Government Employees Due to Weather (Except Essential Jobs)
IDF released footage showing Israeli fighter jets downing some of the 300 drones and missiles fired from Iran at Israel.
The West stands with Israel, Iran is furious: "Double standards and irresponsibility"
Huge Queues at Iranian Gas Stations
Stabbing rampage terror attack in Sydney, at least four people killed, early reports that a baby was among those stabbed.
Scandal in Iran after a goalkeeper had the audacity to hug a female fan who stormed the pitch
Iran fired more than 300 drones and missiles at Israel overnight. Israel Reports Light Damage After Iran Launches Large Strike.
Saudi Arabia calls for "restraint" amid Iranian strikes on Israel
Iran launched dozens of drones at Israel on Saturday but they will take hours to reach their targets, Israel's military said
Online YouTube streamer N3ON was just sentenced to AN ENTIRE YEAR in prison in Dubai for filming and live-streaming, without “proper permits”
UN Chief Warns: Gaza Outflow to Egypt Would Derail Israeli-Palestinian Peace
Record Number of Arab Soldiers Serve in IDF Amidst Ongoing Gaza Conflict: A Personal Story of Loyalty and Advocacy
Major Charities Warn of Genocide in Gaza: 'Impossible' to Deliver Aid, Israel Accused of Complicity
Biden Warns Netanyahu: US Aid to Israel Depends on Gaza Civilian Protection
Israel Reopens Gaza Border for Temporary Humanitarian Aid Amid International Pressure
United Arab Emirates suspends diplomatic relations with Israel
DOZENS OF ARMED FIGHTERS ATTACK 3 IRANIAN MILITARY FACILITIES
Qatar PM: Displaced Palestinians Key Issue in Gaza Ceasefire Negotiations
Palestinian Authority Seeks Renewed UN Membership Amid Reforms and International Pressure
Gaza Crisis: Soaring Newborn Mortality Due to Malnutrition and Destroyed Health Facilities
World Bank: $18.5 Billion in Damages to Gaza's Critical Infrastructure and Economy
Iran: Two Generals, Five Officers Killed in Israeli Strike on Syrian Consulate
Israel Passes Law to Potentially Ban Al Jazeera Amid Conflict with Hamas
Turkish local elections: Opposition stuns Erdogan with historic victory
Israel Must "Ensure Urgent Humanitarian Assistance" In Gaza: World Court
Saudi Arabia To Participate In Miss Universe Pageant For 1st Time Ever
Court ruling effectively outlaws Islamic schools in India’s most populous state
"War Crime" Warning by Macron to Israel on Gazans' Forced Transfer
Senior Hezbollah Official Makes Landmark Visit To UAE: Report
Gaza's catastrophic food shortage means mass death is imminent, monitor says
Over 13,000 Children Killed in Gaza, UN Agency Reports
Israeli PM approves Rafah operation plan
Islamic call in British parliament today.
Thai Muslims perform the Taraweeh prayer during the holy month of Ramadan
South Africa announced that Israeli soldiers holding South African citizenship would be arrested upon entering the country
In a Misguided Critique, Jewish US Official Asked to Respect Local Traditions in Saudi Arabia
The Indian government is demolishing mosques as part of the religious war taking place there.
Biden: Netanyahu causes Israel more harm than benefit
Turkish President Erdogan Says March Elections Will Be His Last
Being racist is a full time job
×