Saturday, December 2, 2023

The White House says there is “steady progress” in the debt ceiling negotiation

The White House assured this Friday that there has been a “steady progress” in negotiations with congressional Republicans to suspend the debt ceiling.

Bidenwho is in Hiroshima to participate in the G7 summitspoke this Friday between 20 and 30 minutes with his team in Washington to find out the status of the negotiations, indicated the White House spokeswoman, Karine Jean-Pierre.

In that phone callBiden was informed that “stable progress” has been made in the dialogue with the Republican opposition, a senior US official detailed.

USA It has never defaulted on the national debt, but from time to time it looks at that possibility because, unlike other countries, its Executive can only issue debt up to the limit set by Congress, which has the power to suspend that ceiling as it sees fit.

The current limit, of US$31.4 billion, was reached last January. Currently, the Government is resorting to money in his Bookings to pay off the debts it has incurred, but the Treasury Department estimates that those reserves will be depleted on June 1.

After participating in the G7 summit, which begins today in hiroshima and will end on Sunday, Biden was scheduled to participate in the Pacific Islands Forum in Papua New Guinea and the Quad summit (USA, Australia, India and Japan) in Australia.

However, he decided to cancel those visits to return earlier to Washington and continue negotiations with the Republicans.


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