President Biden: Debt meeting 'productive,' default 'not an option'

You're setting *** great example for us. OK, folks uh welcome. I made clear during our meeting that default is not an option, repeated that time and again, America is not *** dead beat nation. We pay our bills and avoiding default is *** basic duty of the United States. Congress. I told congressional leaders that I'm prepared to begin *** separate discussion about my budget and the spending priorities but not under the threat of default. As I said, I've already cut the deficit by 1.7 trillion in my first two years in office. And the budget just submitted to Congress cuts another $3 trillion in debt over the next 10 years. My budget that I submitted. I made it clear that we can cut spending and cut the deficit. Everybody in this meeting reiterated the positions they were at. I didn't see any new movement. The president said the staff should get back together but I was very clear with the president. We have now just two weeks to go. I asked the president this simple question, does he not believe there's any place we could find savings? He signed *** bill that the House passed became law that the pandemic is over. We have 50 to $60 billion that have sat out there that has been appropriated for more than two years that we could pull back and save the taxpayer money. We could put in growth packages that help us economically cutting the red tape so we could build things in America again. We could have items that he actually voted for like work requirements that just passed in Wisconsin with 82% of the vote to help our supply chain get stronger. I would hope that he would be willing to negotiate for the next two weeks. So we could actually solve this problem and not take America on the brink. Well, as I think all of, you know, I've been through *** few uh death dealings over the years. Let me first make the point. The United States is not going to default. It never has and it never will. However, elections have consequences. We now have divided government. We didn't have *** divided government last year. The solution to this problem lies with two people. President United States who can sign *** bill and deliver the members of his party to vote for it. And the Speaker of the House, there is no sentiment in the Senate, certainly not 60 votes for *** clean debt ceiling. So there must be an agreement and the sooner the president and the speaker can reach an agreement, the sooner we can solve the problem. We explicitly asked Speaker mccarthy, would he take default off the table? He refused. President Biden said he would. Leader Jeffrey said he would. Of course, I said I would, but he wouldn't take it off the table. And instead of him giving us *** plan to remove default, he gave us *** plan to take default hostage.

President Joe Biden and congressional leaders confronted each other on the debt limit impasse Tuesday, ending their meeting with no breakthrough but agreeing to meet again this week to try to avert the looming risk of an unprecedented government default.Speaking at the White House, Biden described the talks as 바카라 게임 웹사이트�productive바카라 게임 웹사이트� even though House Speaker Kevin McCarthy said after the high-stakes Oval Office meeting that he 바카라 게임 웹사이트�didn바카라 게임 웹사이트�t see any new movement바카라 게임 웹사이트� toward resolving the stalemate.Lawmakers and their staffs were to continue discussions on the annual federal budget at Biden바카라 게임 웹사이트�s encouragement. Biden and the congressional leaders are to meet again Friday.After the hourlong discussion in the Oval Office, Biden said he was 바카라 게임 웹사이트�absolutely certain바카라 게임 웹사이트� that the country could avert a default, declaring that failure to meet America's obligations 바카라 게임 웹사이트�is not an option.바카라 게임 웹사이트�Still, time is short. The government is bumping up against its legal limit for borrowing and will not be able to pay all of its bills as soon as June 1 if Congress doesn바카라 게임 웹사이트�t agree to raise the debt ceiling. That failure would send the country into default with wide-reaching economic impact at home and around the world.Republicans came to the White House hoping to negotiate sweeping cuts to federal spending in exchange for allowing new borrowing to avoid default. Biden, on the other hand, reinforced his opposition to allowing the country바카라 게임 웹사이트�s full faith and credit to be held 바카라 게임 웹사이트�hostage바카라 게임 웹사이트� to negotiations 바카라 게임 웹사이트� while affirming his willingness to hold talks on the budget only after default is no longer a threat.Video below: Learn more about what led up to Wednesday's meeting at the White House바카라 게임 웹사이트�I told congressional leaders that I바카라 게임 웹사이트�m prepared to begin a separate discussion about my budget, spending priorities, but not under the threat of default,바카라 게임 웹사이트� Biden said.Outside the White House, McCarthy said, 바카라 게임 웹사이트�I asked the president this simple question, Does he not believe there바카라 게임 웹사이트�s any place we could find savings."As the president welcomed McCarthy, Jeffries, Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell, he had quipped to reporters, 바카라 게임 웹사이트�We바카라 게임 웹사이트�re going to get started, solve all the world바카라 게임 웹사이트�s problems.바카라 게임 웹사이트�Biden later described the meeting's tone as 바카라 게임 웹사이트�very measured and low key,바카라 게임 웹사이트� adding, 바카라 게임 웹사이트�occasionally there would be a little bit of an assertion that maybe was a little over the top from the speaker.바카라 게임 웹사이트� He especially took issue with McCarthy's branding as a lie the Democrats' assertion that the Republicans' budget restraints would hurt veterans.Still, he added, 바카라 게임 웹사이트�I trust Kevin will try to do what he says.바카라 게임 웹사이트�There seemed to be at least a bit of daylight between McConnell, who has let his House counterpart take the lead in negotiations and backed him up ahead of the White House meeting, and McCarthy.The Senate leader categorically said, 바카라 게임 웹사이트�The United States is not going to default. It never has and it never will." The speaker, though, simply said, 바카라 게임 웹사이트�I바카라 게임 웹사이트�ve done everything in my power to make sure we will not default.바카라 게임 웹사이트�Democrats said there is room to 바카라 게임 웹사이트�come together바카라 게임 웹사이트� on spending cuts as part of the budget process, but quickly jumped on McCarthy's refusal to rule out the possibility of default, with Schumer saying the Republican is 바카라 게임 웹사이트�greatly endangering America.바카라 게임 웹사이트�바카라 게임 웹사이트�To use the risk of default, with all the dangers that has for the American people as a hostage and say it바카라 게임 웹사이트�s my way or no way, are mostly my way or no way, is dangerous," Schumer said.Video below: Get the Facts on the debt ceilingMcCarthy said Biden had directed their staffs to continue discussions, and that the leaders themselves would convene again in person on Friday at the White House.While Biden ruled out default, he also all but dismissed trying to unilaterally prevent it. He said he didn't believe invoking the 14th Amendment of the U.S. Constitution, which says the validity of the federal debt shall not be questioned, was a solution to the current impasse.White House lawyers will pursue the idea further, he added, but "the problem is it would have to be litigated.바카라 게임 웹사이트�Before the White House meeting, both McCarthy and White House press secretary Karine Jean-Pierre insisted it would be simple to avert default 바카라 게임 웹사이트� if only the other side capitulated.The chasm between these opposite postures had fomented uncertainty that is roiling financial markets and threatens to turn into a tidal wave that swamps the country바카라 게임 웹사이트�s economy. Default, officials say, threatens to disrupt Social Security payments to retirees, destabilize global markets and tilt the nation into a potentially debilitating recession.Last month, House Republicans passed a sweeping bill to slash spending, an opening offer in negotiations. But that legislation has no chance in the Democratic Senate and the White House has threatened to veto it. Republicans hope that bill would achieve $4.5 trillion in deficit savings through cuts in spending, eliminating tax breaks for investing in clean energy, and reversing Biden바카라 게임 웹사이트�s plans to reduce the burdens of student loan debt.Referring to the House bill, McCarthy said, 바카라 게임 웹사이트�We both said default is not an option 바카라 게임 웹사이트� but only one of us took action.바카라 게임 웹사이트� Already looking past the meeting, Biden on Wednesday is to go to Westchester County, New York, where he plans to deliver a speech on how proposed spending cuts approved by House Republicans could hurt teachers, older adults needing food aid and veterans seeking health care.It's part of a broader campaign by Biden to try to paint the Republican cuts as draconian. Aides believe that message both strengthens his position in talks with the GOP and boosts his nascent 2024 reelection effort. His Wednesday visit will be to a congressional district won by Biden in 2020 but now represented by a Republican, Rep. Mike Lawler.Because the House Republican bill does not specifically spell out which federal programs would be cut, Democrats have gone on offense warning of steep hits to popular programs. The Democratic-aligned group House Majority Forward announced a $1 million campaign Tuesday amplifying such cuts, while the House Republicans' campaign committee countered with its own effort portraying Democrats as 바카라 게임 웹사이트�addicted to spending.바카라 게임 웹사이트�Video below: 'Congress must act' on debt, White House press secretary says in briefingMcCarthy said his caucus would take steps to increase funding for veterans despite their overall proposal. 바카라 게임 웹사이트�First of all, cutting the veterans is a lie,바카라 게임 웹사이트� he said.While calling for a 바카라 게임 웹사이트�clean바카라 게임 웹사이트� increase to the debt limit, Biden has said he is open to discussion about how to reduce the federal deficit. His budget plan would trim deficits by nearly $3 trillion over a decade, mainly through tax increases on the wealthy and changes such as letting the government negotiate over prescription drug prices.In response to McCarthy바카라 게임 웹사이트�s demand to claw back some unspent funds from his sweeping COVID-19 relief package, Biden said he would 바카라 게임 웹사이트�take a hard look바카라 게임 웹사이트� at doing so independent of the talks to raise the debt limit.바카라 게임 웹사이트�We don바카라 게임 웹사이트�t need it all, but the question is what obligations were there made, commitments made, money not dispersed, etc.,바카라 게임 웹사이트� Biden said, adding, 바카라 게임 웹사이트�It바카라 게임 웹사이트�s on the table.바카라 게임 웹사이트�Biden added the debt limit should be raised for 바카라 게임 웹사이트�more than a year, so that we can move things along.바카라 게임 웹사이트� The House GOP bill raised the possibility of another showdown over the government바카라 게임 웹사이트�s borrowing authority in the heat of a presidential election next year. While the financial markets have started to show some jitters, the business community has thus far largely avoided backing either side in the showdown and instead called for a deal to be struck.바카라 게임 웹사이트�Securing a bipartisan path forward to raise the debt ceiling could not be more urgent,바카라 게임 웹사이트� said Josh Bolten, the head of the Business Roundtable, a group that represents CEOs. 바카라 게임 웹사이트�The cost of a default, or even the threat of a default, is simply too high.바카라 게임 웹사이트�The U.S. Chamber of Commerce suggested its own priorities for a swift deal Tuesday, saying "there are no two better places to start than permitting reform and an agreement on spending caps.바카라 게임 웹사이트�Biden's refusal to negotiate on the debt limit is informed by his first-hand experience in 2011, when he was Barack Obama's vice president and the administration made painful concessions to Republicans in an effort to avoid default. Biden has told aides it's an experience he refuses to repeat, not just for himself, but for future presidents.Notably, though, the administration has not ruled out a short-term increase in the debt limit that would align the deadline to increase federal borrowing authority with the talks on government spending that must be resolved by Sept. 30.

WASHINGTON —

Speaking at the White House, Biden described the talks as 바카라 게임 웹사이트�productive바카라 게임 웹사이트� even though House Speaker Kevin McCarthy said after the high-stakes Oval Office meeting that he 바카라 게임 웹사이트�didn바카라 게임 웹사이트�t see any new movement바카라 게임 웹사이트� toward resolving the stalemate.

Lawmakers and their staffs were to continue discussions on the annual federal budget at Biden바카라 게임 웹사이트�s encouragement. Biden and the congressional leaders are to meet again Friday.

After the hourlong discussion in the Oval Office, Biden said he was 바카라 게임 웹사이트�absolutely certain바카라 게임 웹사이트� that the country could avert a default, declaring that failure to meet America's obligations 바카라 게임 웹사이트�is not an option.바카라 게임 웹사이트�

Still, time is short. The government is bumping up against its legal limit for borrowing and will not be able to pay all of its bills as soon as June 1 if Congress doesn바카라 게임 웹사이트�t agree to raise the debt ceiling. That failure would send the country into default with wide-reaching economic impact at home and around the world.

Republicans came to the White House hoping to negotiate sweeping cuts to federal spending in exchange for allowing new borrowing to avoid default. Biden, on the other hand, reinforced his opposition to allowing the country바카라 게임 웹사이트�s full faith and credit to be held 바카라 게임 웹사이트�hostage바카라 게임 웹사이트� to negotiations 바카라 게임 웹사이트� while affirming his willingness to hold talks on the budget only after default is no longer a threat.

Video below: Learn more about what led up to Wednesday's meeting at the White House

바카라 게임 웹사이트�I told congressional leaders that I바카라 게임 웹사이트�m prepared to begin a separate discussion about my budget, spending priorities, but not under the threat of default,바카라 게임 웹사이트� Biden said.

Outside the White House, McCarthy said, 바카라 게임 웹사이트�I asked the president this simple question, Does he not believe there바카라 게임 웹사이트�s any place we could find savings."

As the president welcomed McCarthy, Jeffries, Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell, he had quipped to reporters, 바카라 게임 웹사이트�We바카라 게임 웹사이트�re going to get started, solve all the world바카라 게임 웹사이트�s problems.바카라 게임 웹사이트�

Biden later described the meeting's tone as 바카라 게임 웹사이트�very measured and low key,바카라 게임 웹사이트� adding, 바카라 게임 웹사이트�occasionally there would be a little bit of an assertion that maybe was a little over the top from the speaker.바카라 게임 웹사이트�

He especially took issue with McCarthy's branding as a lie the Democrats' assertion that the Republicans' budget restraints would hurt veterans.

Still, he added, 바카라 게임 웹사이트�I trust Kevin will try to do what he says.바카라 게임 웹사이트�

There seemed to be at least a bit of daylight between McConnell, who has let his House counterpart take the lead in negotiations and backed him up ahead of the White House meeting, and McCarthy.

The Senate leader categorically said, 바카라 게임 웹사이트�The United States is not going to default. It never has and it never will." The speaker, though, simply said, 바카라 게임 웹사이트�I바카라 게임 웹사이트�ve done everything in my power to make sure we will not default.바카라 게임 웹사이트�

Democrats said there is room to 바카라 게임 웹사이트�come together바카라 게임 웹사이트� on spending cuts as part of the budget process, but quickly jumped on McCarthy's refusal to rule out the possibility of default, with Schumer saying the Republican is 바카라 게임 웹사이트�greatly endangering America.바카라 게임 웹사이트�

바카라 게임 웹사이트�To use the risk of default, with all the dangers that has for the American people as a hostage and say it바카라 게임 웹사이트�s my way or no way, are mostly my way or no way, is dangerous," Schumer said.

Video below: Get the Facts on the debt ceiling

McCarthy said Biden had directed their staffs to continue discussions, and that the leaders themselves would convene again in person on Friday at the White House.

While Biden ruled out default, he also all but dismissed trying to unilaterally prevent it. He said he didn't believe invoking the 14th Amendment of the U.S. Constitution, which says the validity of the federal debt shall not be questioned, was a solution to the current impasse.

White House lawyers will pursue the idea further, he added, but "the problem is it would have to be litigated.바카라 게임 웹사이트�

Before the White House meeting, both McCarthy and White House press secretary Karine Jean-Pierre insisted it would be simple to avert default 바카라 게임 웹사이트� if only the other side capitulated.

The chasm between these opposite postures had fomented uncertainty that is roiling financial markets and threatens to turn into a tidal wave that swamps the country바카라 게임 웹사이트�s economy. Default, officials say, threatens to disrupt Social Security payments to retirees, destabilize global markets and tilt the nation into a potentially debilitating recession.

Last month, House Republicans passed a sweeping bill to slash spending, an opening offer in negotiations. But that legislation has no chance in the Democratic Senate and the White House has threatened to veto it. Republicans hope that bill would achieve $4.5 trillion in deficit savings through cuts in spending, eliminating tax breaks for investing in clean energy, and reversing Biden바카라 게임 웹사이트�s plans to reduce the burdens of student loan debt.

Referring to the House bill, McCarthy said, 바카라 게임 웹사이트�We both said default is not an option 바카라 게임 웹사이트� but only one of us took action.바카라 게임 웹사이트�

Already looking past the meeting, Biden on Wednesday is to go to Westchester County, New York, where he plans to deliver a speech on how proposed spending cuts approved by House Republicans could hurt teachers, older adults needing food aid and veterans seeking health care.

It's part of a broader campaign by Biden to try to paint the Republican cuts as draconian. Aides believe that message both strengthens his position in talks with the GOP and boosts his nascent 2024 reelection effort. His Wednesday visit will be to a congressional district won by Biden in 2020 but now represented by a Republican, Rep. Mike Lawler.

Because the House Republican bill does not specifically spell out which federal programs would be cut, Democrats have gone on offense warning of steep hits to popular programs. The Democratic-aligned group House Majority Forward announced a $1 million campaign Tuesday amplifying such cuts, while the House Republicans' campaign committee countered with its own effort portraying Democrats as 바카라 게임 웹사이트�addicted to spending.바카라 게임 웹사이트�

Video below: 'Congress must act' on debt, White House press secretary says in briefing

McCarthy said his caucus would take steps to increase funding for veterans despite their overall proposal. 바카라 게임 웹사이트�First of all, cutting the veterans is a lie,바카라 게임 웹사이트� he said.

While calling for a 바카라 게임 웹사이트�clean바카라 게임 웹사이트� increase to the debt limit, Biden has said he is open to discussion about how to reduce the federal deficit. His budget plan would trim deficits by nearly $3 trillion over a decade, mainly through tax increases on the wealthy and changes such as letting the government negotiate over prescription drug prices.

In response to McCarthy바카라 게임 웹사이트�s demand to claw back some unspent funds from his sweeping COVID-19 relief package, Biden said he would 바카라 게임 웹사이트�take a hard look바카라 게임 웹사이트� at doing so independent of the talks to raise the debt limit.

바카라 게임 웹사이트�We don바카라 게임 웹사이트�t need it all, but the question is what obligations were there made, commitments made, money not dispersed, etc.,바카라 게임 웹사이트� Biden said, adding, 바카라 게임 웹사이트�It바카라 게임 웹사이트�s on the table.바카라 게임 웹사이트�

Biden added the debt limit should be raised for 바카라 게임 웹사이트�more than a year, so that we can move things along.바카라 게임 웹사이트� The House GOP bill raised the possibility of another showdown over the government바카라 게임 웹사이트�s borrowing authority in the heat of a presidential election next year.

While have started to show some jitters, the business community has thus far largely avoided backing either side in the showdown and instead called for a deal to be struck.

바카라 게임 웹사이트�Securing a bipartisan path forward to raise the debt ceiling could not be more urgent,바카라 게임 웹사이트� said Josh Bolten, the head of the Business Roundtable, a group that represents CEOs. 바카라 게임 웹사이트�The cost of a default, or even the threat of a default, is simply too high.바카라 게임 웹사이트�

The U.S. Chamber of Commerce suggested its own priorities for a swift deal Tuesday, saying "there are no two better places to start than permitting reform and an agreement on spending caps.바카라 게임 웹사이트�

Biden's refusal to negotiate on the debt limit is informed by his first-hand experience in 2011, when he was Barack Obama's vice president and the administration made painful concessions to Republicans in an effort to avoid default. Biden has told aides it's an experience he refuses to repeat, not just for himself, but for future presidents.

Notably, though, the administration has not ruled out a short-term increase in the debt limit that would align the deadline to increase federal borrowing authority with the talks on government spending that must be resolved by Sept. 30.

President Biden: Debt meeting 'productive,' default 'not an option'

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