May 29, 2023
Joseph Biden

US President Joe Biden

┬ęBonnie Cash/Pool via CNP/AdMedia/Global Look Press

Negotiations between the administration of the American president and the leaders of Congress on the issue of raising the national debt ceiling are moving forward. At the same time, discussions “have not yet reached a critical point.” This was told to reporters by the head of state Joe Biden.

“They (negotiations. – “Profile”) are moving forward, we are talking about real discussions,” the American leader said. Biden did not answer a question about when his next meeting with Congressional leaders would take place. The words of the President on Saturday, May 13, quotes RIA News.

Biden thinksthat if negotiations to raise the debt ceiling fail, the US could default. It can turn into problems for the whole world. According to the head of state, in this case, the American economy “will slide into recession” and the US reputation “in the world will be extremely damaged.”

Biden said earlier that he was thinking about the possibility of preventing potential default in the country on federal debt without the participation of Congress. “I am considering the 14th Amendment to the US Constitution,” the President explained.

Representatives of the Republican Party, who control the lower house of Congress, link the increase in the national debt ceiling with the adoption of a program to cut public spending. At the same time, the head of the White House insists on expanding debt limits without any accompanying conditions.

Leave a Reply

Your email address will not be published. Required fields are marked *