Biden, McCarthy Meeting Offers Hope of Deal on Debt Ceiling

Contact Your Elected Officials
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.

With or without

The mullahs of Iran have been at war with the West, particularly the US, for half a century and Iran is also the worldโ€™s foremost champion of terrorism.

Artificial Intelligence Equals Awful Iniquities

WSJ article โ€œAI is Learning to Escape Human Controlโ€ said in 79 of 100 trials, the o3 AI code systems edited their own code to prevent human shutdown!

VIDEO: Deranged Feminist vs. Mating Ducks in Epic Public Meltdown

A middle-aged white lady lib harasses mating ducks to โ€œstop it!โ€ because the rough sex they enjoy appears non-consensual on the part of the female.

RFK Jr. Slashes ALL U.S. Funding For Bill Gatesโ€™ Global โ€˜Vaccine Allianceโ€™

Robert F. Kennedy, Jr. recently pulled all U.S. government funding from Bill Gatesโ€™ Global โ€˜Vaccine Allianceโ€™ GAVI.

Seven Things Democrats Are Doing Wrong

Ask Democrat voters why Donald Trump was elected president again and you will get answers that show a lack of self-reflection and a ton of deflection.

US Streamlines Rule for Fining Illegal Immigrants, Will Issue Nearly $1,000 Daily Fines for Noncompliance

DHS and DOJ announced a new joint federal rule that streamlines the process of issuing fines for illegal immigrants, making it easier and more efficient.

Man Indicted on 12 Hate Crime Charges in Attack on Boulder Demonstration for Israeli Hostages

Boulder, CO man accused of hurling Molotov cocktails at demonstrators supporting Israeli hostages indicted by grand jury on 12 hate crime counts.

Newsom Signs California Budget Aimed at Addressing $12 Billion Deficit

Gov. Gavin Newsom signed California budget projected to close a $12 billion deficit through spending reductions on some of the stateโ€™s ongoing programs.

Western Battery Technology Aims to Leapfrog Chinaโ€™s Mineral Dominance

Chinaโ€™s stranglehold on the battery market could be loosened with tech that substitutes hard-to-source minerals with alternatives available in the West.

Termination of โ€˜Wasteful Contractsโ€™ Saves US Government $470 Million Last Week: DOGE

Over the past seven days, various government agencies have terminated 312 โ€œwasteful contractsโ€ with a ceiling value of $2.8 billion, the DOGE said.

Trump Says He Will Only Appoint Fed Chair Who Wants to Cut Interest Rates

President Trump said he may appoint someone who is more inclined to lower interest rates to succeed Federal Reserve Chair Jerome Powell.

Trump Says US Ending All Trade Talks With Canada

Trump posted he is ending โ€œallโ€ trade negotiations with Canada due to their plan to impose a digital services tax which affects U.S. tech companies.

White House Confirms US, China Have Reached Additional Trade Agreement

A White House official said the United States and China have reached an additional agreement as trade talks between the two nations continue.
spot_img

Related Articles