"Much of what they already proposed is simply, quite frankly unacceptable."
Pres. Biden addresses the debt ceiling negotiations with House Speaker McCarthy after negotiations were put on pause while Biden is abroad. pic.twitter.com/Lotumo4OKM
— ABC News (@ABC) May 21, 2023
- Debt Ceiling Negotiations Crumble, McCarthy And Biden To Hold Sunday Call As Impasse Intensifies
by Tyler Durden, https://www.zerohedge.com/
Negotiations in Washington DC over the debt ceiling have taken a big step back over the weekend, as the White House and House Republicans continue to point fingers at each other.
“It seems as though he wants default more than he wants a deal,” House Speaker Kevin McCarthy (R-CA) told Fox News on Sunday. “We have got 11 days to go,” McCarthy continued, urging Biden and the Democrats to be “sensible about this.”
Republicans have been pushing for substantial, longer-term spending reductions, arguing that Congress needs to roll the nation’s deficit spending back to 2022 levels, while restricting the growth of government spending. The White House, on the other hand, wants to achieve policy goals via taxation.