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Friday, March 29, 2024

White House reports progress in talks to avert US debt default

Image via Facebook, Joe Biden

The White House has reported some progress in the ongoing discussions with Republican negotiators to prevent a catastrophic US debt default before the June 1 deadline. White House Press Secretary Karine Jean-Pierre stated that both sides must understand that they won’t get everything they want. The talks between US President Joe Biden and Republicans in Congress are set to continue, as they attempt to reach an agreement on raising or suspending the borrowing cap, known as the debt ceiling, to cover existing US spending commitments.

Republicans have so far refused to raise the debt ceiling without a commitment from Democrats to reduce spending next year and begin addressing the country’s US$31-trillion-plus debt. With only nine days remaining, House Speaker Kevin McCarthy emphasised that Republicans are the only ones in Washington who have taken…

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