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.
Meanwhile, Biden – speaking at a press conference held after the Group of Seven (G-7) summit in Hiroshima, said that he would speak with McCarthy shortly, though he added that the Republican plan was unacceptable.
“The speaker and I’ll be talking later on the plane as we head back,” said Biden. “And our teams are going to continue working.”
“I’m willing to cut spending, and I proposed cuts in spending of over a trillion dollars,” he continued. “But I believe we have to also look at the tax revenues,” adding that the Republican proposal to cut $2 trillion in taxes would hurt the economy.
“Now it’s time for the other side to move from their extreme positions, because much of what they’ve already proposed is simply, quite frankly, unacceptable,” Biden told reporters. “And it’s time for Republicans to accept that there is no bipartisan deal to be made solely on their partisan terms.”
He also rambled a lot.
In all seriousness — what is Biden talking about? pic.twitter.com/YtfhVFxNHE— RNC Research (@RNCResearch) May 21, 2023