Biden, McCarthy Meeting Offers Hope of Deal on Debt Ceiling

The Epoch Times Header

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) will meet on May 22 for in-person talks on resolving the debt ceiling crisis.

Over the weekend, negotiations between representatives from each side stalled as both doubled down on their demands.

Rep. Garret Graves (R-La.), the lead negotiator for Republicans, told reporters on May 19 that Bidenโ€™s negotiators were being โ€œunreasonable.โ€

The president told reporters on May 21, โ€œNow itโ€™s time for the other side to move from their extreme positions, because much of what theyโ€™ve already proposed is simply, quite frankly, unacceptable.โ€ Biden spoke from Hiroshima, Japan, where he was attending the G7 Summit.

Later on May 21, the two men spoke by phone and agreed to meet the next day. Following the call, McCarthy told reporters that the call was โ€œproductive,โ€ adding, โ€œI think we can solve these problems.โ€

โ€œI think that we can reach an agreement,โ€ Biden said.

At issue are the provisions of the Limit, Save, Grow Act, which Republicans passed on April 26.

The measure would reduce discretionary spending to the 2022 level, increase work requirements for some beneficiaries of Medicaid and the Supplemental Nutrition Assistance Program (SNAP), loosen permitting requirements for oil and gas drilling, and increase the debt ceiling through March 2024.

Democrats have roundly criticized the proposal as an effort to balance the federal budget on the backs of the working class while preserving Trump-era tax cuts for the wealthiest Americans.

In particular, Democrats have decried what they call steep spending cuts that they believe will cost tens of thousands of jobs and require wholesale reduction of federal food assistance, education, and other programs that benefit many Americans. They also insist on no changes to federal work requirements.

McCarthy has said that work requirements and a reduction in spending are โ€œred linesโ€ for Republicans.

Byย Lawrence Wilson

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Columns

Why Fishermen Are Catching Fewer Lobsters in Maine

For veteran lobsterman Travis Dammier, it was the end of another trip at sea on a solo voyage to earn a living.

Viewers like you

There is no constitutional authority for any spending on public broadcasting โ€“ period. Any questions: See Article 1, Section 8 of the U.S. Constitution.

Beyond the Trump-Musk fallout?

We are witnessing an unprecedented, unhinged Democrat effort to use lawfare, big Democrat donors, street theater, congressional disruptions, potty-mouth videos, the administrative state, the legacy media, and discredited pollsters to stop the Trump agenda.

Trans-wormal

No worm ever said "I am anthropomorphizing, I am a butterfly" to a toad or flock of geese and expected acknowledgement and support.

In Greenlandโ€™s Icy Capital, Past Troubles Haunt Hopes for the Future

As geopolitical realities and ongoing economic growth raise the stakes, U.S. interest in Greenland and the dream of independence may change things in a big way.

News

Citigroup Reverses Course on Controversial Firearm Policies

Citigroup reversed its policy requiring retail business clients to refrain from selling firearms to those who havenโ€™t passed background checks.

Supreme Court Sides With DOGE in Social Security, Records Cases

The Supreme Court handed DOGE two big wins late on June 6 in its effort to reduce the size of the federal government.

Kilmar Abrego Garcia Returns to US to Face Criminal Charges

Kilmar Abrego Garcia, a citizen of El Salvador, is on his way back to the US, where he will face criminal charges for allegedly smuggling illegal immigrants.

White House Adviser Gives Update on DOGEโ€™s Future Amid Muskโ€“Trump Spat

A top White House adviser said DOGEโ€™s work will likely continue amid a spat between its former chief, Elon Musk, and President Donald Trump.

Trump Administration Asks Supreme Court to Allow Dismantling of Education Department

Trump admin asked Supreme Court to allow it to resume dismantling U.S. Dept of Education, following a lower courtโ€™s previous order halting process.

FTC Warns of Rising Student Loan Scams, Says Fraudsters Took Millions From Borrowers

FTC is warning borrowers to steer clear of student loan debt-relief scams, after shutting down group of companies that allegedly charged millions in illegal fees and left customers worse off.

Walmartโ€™s Drone Delivery Coming to 5 More US Cities

Walmart is set to launch its drone delivery service in five more U.S. cities: Atlanta, Charlotte, Houston, Orlando, and Tampa, the company.

Court Orders Trump Administration to Restore AmeriCorps Funding to States

Federal court ordered Trump admin to restore AmeriCorps funding to states. The ruling comes as part of a lawsuit filed by 24 states and DC.
spot_img

Related Articles