The meeting between Biden and the House of Representatives to suspend the US debt ceiling ended without agreement

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In a statement, the White House assured that both the president of the United States and the leader of the House of Representatives had a “frank and direct” dialogue, in who underlined their enthusiasm to continue working “in good faith”

The meeting between Biden and the House of Representatives Representatives to suspend the US debt ceiling ended without agreement

The meeting between Biden and the House of Representatives to suspend the US debt ceiling ended without agreement. (REUTERS)

US President Joe Biden and Majority Leader in the House of Representatives, Republican Kevin McCarthy, they did not reach any agreement on the suspension of the debt limit and the spending cuts of the public.

At the end of the meeting, which lasted an hour and a half, McCarthy said that he had a “good” conversation with Biden and that, although they did not reach agreements, both They agreed on the need to continue talking to bring positions together.

“We have different perspectives, but we both presented our vision of where we want to go. And after laying out our views, I think we can find common ground,” McCarthy said, surrounded by a large crowd of journalists outside the Oval Office.

< p class="paragraph">In a statement, the White House reported that Biden and McCarthy had a “frank and direct” dialogue, in which the president stressed his “enthusiasm” for continuing to work “in good faith”.

The Republican leader, however, insisted that the United States cannot continue to borrow current levels with $31.4 trillion accumulated in loans.

McCarthy compared the current situation to that of a child who his father leaves a credit card and ends up incurring debts over the established limit.

The meeting between Biden and the House of Representatives to suspend the US debt ceiling ended without an agreement

The Republican leader insisted that the US cannot continue borrowing at current levels with 31.4 trillion dollars accumulated in loans. (AP)

“The responsible thing now is to pay for the debts of that credit card, but the responsible thing also looking forward is to see what we are spending our money on,” he argued.

In general terms, Republicans see the battle over the suspension of the debt ceiling as an opportunity to get concessions from Biden for the first time since he came to power in January 2021, as conservatives now control the Lower Houseafter the November elections.

Faced with this, the White House insisted in its statement that Biden has made it clear that it is a shared duty “not to allow a unprecedented and economically catastrophic non-payment (of the debt).

And he stressed that it is not “something negotiable or conditional“.

In her daily press conference, the spokeswoman for the Presidency, Karine Jean-Pierre, McCarthy gave him a hint when alluding to the fragile position he has within his own party after a group of ultra-conservative deputies opposed his election as speaker of the Lower House.

“We understand what the president of the Chamber is going through. He has a party that has made proposals with very extreme ideas (…) And that is what we are dealing with,” said Jean-Pierre.

The meeting between Biden and the House of Representatives to suspend the US debt ceiling ended without an agreement

The spokeswoman for the Presidency, Karine Jean-Pierre, gave McCarthy a hint when alluding to the fragile position he has within his own party after a group of ultra-conservative deputies opposed his election as president of the Lower House. (REUTERS)

The meeting between the Democrat and the highest-ranking Republican in Washington was held behind closed doors without journalists being able, as on other occasions, to ask questions and hear the views of each party.

The debt ceiling is the total amount of money the government is allowed to borrow to meet your existing legal obligations and being able to pay your Social Security benefitsand Medicare, military salaries, interest on the national debt, tax refunds and other payments.

From time to time, the US comes close to defaulting its national debt because, unlike other countries, the US executive can only issue debt up to the limit set by Congress , which has the power to suspend that ceiling as it sees fit.

If Congress, whose control is divided between Republicans in the House of Representatives and Democrats in the Senate, does not agree to suspend the ceiling, the country will be forced to default on its debts, which could trigger a financial crisis. global.

A spokesman for the International Monetary Fund stated that not raising the US debt ceiling would have serious repercussions for the country and the world economy, and urged the parties involved to work to resolve the impasse.

“The world economy is facing another difficult year. There would be serious repercussions if the US debt ceiling were not raised, there would be serious repercussions, both for the United States and through indirect effects on the global economy,” the spokesperson said in response to a query. from the Reuters news agency.

(With information from EFE and Reuters)

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