(Washington Composite Electric) U.S. President Biden and the Republican leader of the parliament have not achieved substantial progress in the negotiations on the upper limit of federal debt, but the two parties promise to negotiate government expenditure issues, which is expected to promote the final debt agreement.
After Bayeng and Republican House Speaker Kevin McCarthy's negotiations on Tuesday (May 9), they promised to appoint assistants to continue the budget expenditure, and then Bayeng and Congress leader will be on Friday (12Day) Another talk.
Tuesday negotiations were held in the White House Oval Office, which lasted about an hour.There were also Republican Senate Leaders McConal, as well as the Democratic House of Representatives, the leaders of the Democratic House of Representatives Jeffris, and the major party leader of the Senate.
Biden considers recovering unused crown disease rescue funds
Bynden said the talks were "effective".He seems to have intended to make some compromises, including the first "serious consideration" to recover the unused crown disease assistance to reduce government expenditure.
Daniedon reiterated that Republicans must eliminate the threat of breach of contract.He did not rule out the final amendment to Article 14 of the US Constitution.This administrative measure is designed to declare the debt upper limit, and the president has the right to bypass Congress to raise debt by itself, but this will inevitably trigger constitutional lawsuits.Biden said this is an option he may study in the future.
McCarthy refers to the lack of progress in negotiations, "I haven't seen any new trends." But he also said that Biden stated that he was willing to discuss the procedure of reforming the new energy project.
Biden requires unconditional to increase debt upper limit
Before the negotiations on Tuesday, McCarthy seemed to exclude the short -term solutions that Congress Mountain was being discussed: raising the debt limit to September in order to have more time to reach an agreement.Biden said after the meeting that he did not rule out such short -term arrangements.
The differences between the White House and the Republican Party on raising the upper limit of debt lies in that Biden asked Congress to increase the debt limit of US $ 31.4 trillion (approximately $ 41.6 trillion), but the Republicans asked him to comprehensively reduce expenses.
The US Treasury estimates that if the debt limit is not raised, the federal government may break the contract as early as June 1.However, Biden's foreign travel plan and the sessions of the two hospitals meant that before the deadline, all the three parties had only seven days in Washington.
Bynden scheduled to fly to Hiroshima, Japan to participate in the Seventh Kingdom Group (G7) summit from May 19th to 21st.Regarding whether he would stay in the country to solve the problem and absent from the summit, Biden said that he was still preparing to attend the summit, but it also showed that the problem of debt limit was even more important.
Wall Street Leader: Or it is necessary to permanently cancel the upper limit of debt
Wall Street leaders warned that the impact of US debt defaults was "unimaginable" and claimed that it might be necessary to permanently cancel the debt limit.
The "Financial Loan Consulting Committee" (TBAC), composed of well -known bank executives of Wall Street, sent a letter to the US Treasury Secretary Yellen, saying that the negotiation of the debt limit was in a deadlock, which not only paid the financial market, but also the financial company also needed time to spend time.Prepare for breach of contract.
The letter emphasizes that this is the time to introduce another opportunity to strengthen fiscal responsibility, either the debt limit and appropriation increase at the same time, otherwise the debt limit will be completely canceled.
