Washington, May 17 (EFE).- The president of the United States, Joe Biden, was sure this Wednesday that there will be an agreement between Democrats and Republicans on the debt limit that will avoid the suspension of payments of the country, because all the leaders involved “understand the consequences” of not reaching that consensus.
In an intervention at the White House before leaving for Japan to participate in the G7 summit, Biden was optimistic after the meeting he held on Tuesday with the leaders of Congress, he promised that he would continue to be in contact with them during his trip, he recalled that He returns earlier to continue negotiating and explained that on Sunday, when he returns, he hopes to report on the evolution of the talks.
“We had a productive meeting and I am sure that everyone in the room agreed” on the need to reach a consensus, because “there is no other alternative”, said Biden about this negotiation that is urgent given that, according to the calculations of the Treasury, the country will not be able to face its payments as of June 1 if the agreement on the debt limit is not reached.
Biden has canceled the second leg of his G7 summit trip to Papua New Guinea and Australia to continue negotiations.
The president will return to Washington earlier than expected due to the impossibility yesterday of closing an agreement with the Republicans to increase the debt limit, which was reached at the beginning of the year and which threatens to lead the country to the first suspension of payments in its history. .
The president’s words this Wednesday show greater optimism than in recent days, in which the positions have seemed far removed and with constant messages from the US government about how “catastrophic” that suspension would be for the economy.
He explained that yesterday he agreed with the president of the House of Representatives, Republican Kevin McCarthy, that each party designate a specific and reduced negotiation team and both decided to “make an effort” to leave their differences behind to try to reach an agreement.
Said teams met last night and will do so again today, according to Biden, who announced that the discussions will continue and hopes to be able to give an account next Sunday at a press conference.
Biden warned that he will not accept demands from Republicans that could have “an impact” on issues such as health, in a clear allusion to McCarthy’s requests to toughen the requirements that the poorest Americans must meet to access health and food aid.
McCarthy was pleased this Wednesday in a press conference that both the president and the leader of the Democratic majority in the Senate, Chuck Schumer, “have finally backed down from the idea that they will not negotiate.”
“But our time frame is short. I hope the American people see that the Republicans are not ignorant of the problems. There is no time for political games anymore. But I never give up, ”she maintained.
From time to time, the United States faces default on the national debt because, unlike other countries, its Executive can only issue debt up to the limit established by Congress, which has the power to suspend that ceiling as it sees fit.
The current limit, of 31.4 billion, was reached last January. Currently, the Government is drawing on money in its reserves to pay off the debts it has contracted.
The leader of the Republicans in the Senate, Mitch McConnell, assured this Wednesday that Biden has taken “three months” to react, face “reality” and take this matter “seriously” and it has now been, after his advice, when you have designated specific members of your team to negotiate.
