US officials resume negotiations on debt ceiling

SGGPO 05/16/2023 08:50

US President Joe Biden confirmed to reporters that he will meet with House Speaker Kevin McCarthy to discuss the debt ceiling issue at 3 p.m. on May 16 (7 p.m. Vietnam time), as time is running out to reach an agreement to prevent a national debt default.

Mr. J. Biden (left) and Mr. K. McCarthy. Photo Reuters

According to Reuters, Mr. J. Biden will meet again with Mr. McCarthy, along with House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell at the White House to negotiate the debt ceiling before Mr. J. Biden leaves for Japan to attend the G7 Summit.

McCarthy told Reuters he saw little sign of progress ahead of the meeting. Asked whether Biden should leave Japan without a debt-ceiling deal, McCarthy said: "I think the president should focus on American issues. And that speaks to his values ​​and priorities."

For his part, President J. Biden made no public comment on the status of the initial negotiations on May 15, after telling reporters that he thought both sides wanted to reach a common agreement.

Earlier, Deputy Treasury Secretary Wally Adeyemo said "constructive" talks on public debt were taking place at the working level, while rejecting accusations that the Biden administration was reluctant to tackle the country's huge public debt. He added that the US President had outlined a $3 trillion plan to eliminate debt over 10 years, including a roadmap to raise taxes on the wealthy and many businesses.

A meeting on the debt ceiling between President Joe Biden and senior Republicans, including House Speaker Kevin McCarthy, scheduled for May 12 has been postponed to allow both sides to continue preparations. Treasury Secretary Janet Yellen had previously warned that the country was at risk of defaulting on its debt by June 1.

Source: https://www.sggp.org.vn/gioi-chuc-my-noi-lai-dam-phan-ve-tran-no-cong-post689843.html