{"id":1927970,"date":"2023-05-10T07:55:30","date_gmt":"2023-05-10T11:55:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-calls-debt-ceiling-talks-with-congressional-leaders-productive-rules-out-default\/"},"modified":"2023-05-10T07:58:03","modified_gmt":"2023-05-10T11:58:03","slug":"biden-calls-debt-ceiling-talks-with-congressional-leaders-productive-rules-out-default","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-calls-debt-ceiling-talks-with-congressional-leaders-productive-rules-out-default\/","title":{"rendered":"Biden deems debt ceiling talks with Congress productive and assures no default."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-calls-debt-ceiling-talks-with-congressional-leaders-productive-rules-out-default%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1927970&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>President Biden Meets with Congressional Leaders to Avoid Default<\/h2>\n<p>President Joe Biden met with congressional leaders on Tuesday to discuss the debt ceiling, which has caused a three-month deadlock between the White House and Congress. The nation&#8217;s financial obligations are at risk of default if a resolution is not reached.<\/p>\n<h3>Productive Meeting<\/h3>\n<p>Following the meeting with House Speaker Kevin McCarthy and other congressional leaders, Biden <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-backs-republican-covid-19-package-after-mcconnell-rejects-bipartisan-proposal\/\" title=\"Trump backs Republican COVID-19 package after McConnell rejects bipartisan proposal\">told reporters<\/a> that the meeting was &#8220;productive.&#8221; He assured the public that he would do everything in his power to prevent the United States from defaulting on its debt obligation.<\/p>\n<p>&#8220;I made it clear during our meeting that default is not an option,&#8221; Biden said. &#8220;I <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-once-bragged-about-allegedly-breaking-into-u-s-capitol\/\" title=\"Biden once bragged about allegedly breaking into U.S. Capitol\">told congressional leaders<\/a> that I&#8217;m prepared to begin a separate discussion about my budget and spending priorities, but not under the threat of default.&#8221;<\/p>\n<p>The President also stated that both sides agreed to continue discussions and would meet again on Friday. Until then, staff from both sides will meet daily to discuss progress.<\/p>\n<h3>Debt Limit and GOP Proposal<\/h3>\n<p>The current limit on federal borrowing in the United States is $31.4 trillion. According to Treasury Secretary Janet Yellen, the nation could default on its debt as soon as early June if the debt limit is not lifted.<\/p>\n<p>House Republicans passed the &#8220;Limit, Save, Grow Act&#8221; in April, which would <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/barry-w-poulson-proposing-a-fiscal-responsibility-amendment\/\" title=\"Barry W. Poulson: Proposing a Fiscal Responsibility Amendment\">cap federal spending<\/a> for fiscal year 2024 at 2022 levels to help offset raising the debt ceiling by $1.5 trillion, or through March 2024. However, the White House dismissed the GOP proposal, accusing House Republicans of &#8220;manufacturing a crisis&#8221; and failing to do their job.<\/p>\n<p>House Speaker Kevin McCarthy told reporters outside the White House after the meeting that &#8220;everybody in this meeting reiterated the positions they were at.&#8221; He expressed hope that the two sides might find areas of common ground and suggested that the House bill could help eliminate waste and grow the economy.<\/p>\n<h3>Short-Term Extension and Unilateral Action<\/h3>\n<p>Biden did not rule out a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-skirts-nationwide-economic-catastrophe-after-last-minute-agreement-to-lift-debt-ceiling\/\" title=\"Congress Skirts Nationwide Economic Catastrophe After Last-Minute Agreement To Lift Debt Ceiling\">short-term extension<\/a> of the debt ceiling but stated that he would not <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-calls-debt-ceiling-talks-with-congressional-leaders-productive-rules-out-default\/\" title=\"Biden deems debt ceiling talks with Congress productive and assures no default.\">approve massive spending cuts<\/a>. He also told reporters that there has been internal White House debate on whether unilateral action, such as invoking the 14th Amendment, is possible to resolve the debt standoff.<\/p>\n<p>Section 4 of the 14th Amendment states, &#8220;The validity of the public debt of the United States, authorized by law \u2026 shall not be questioned.&#8221;<\/p>\n<p>The President accused McCarthy of proposing &#8220;a very different way forward&#8221; and expressed uncertainty about the Republican plan to cut spending.<\/p>\n<p>Despite the challenges, both sides remain committed to finding a solution to avoid default and ensure the nation&#8217;s financial stability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden met with congressional leaders on Tuesday following a three-month deadlock between the White House and Congress over the debt ceiling, which has threatened a default on the nation\u2019s financial obligations. Following the meeting with House Speaker Kevin McCarthy and other congressional leaders, Biden told reporters that the meeting was \u201cproductive\u201d and that<\/p>\n","protected":false},"author":531,"featured_media":1927971,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[17562,3620,10142,4402,5487,17325,15651,20711,3745],"class_list":["post-1927970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-assures","tag-biden","tag-ceiling","tag-congress","tag-debt","tag-deems","tag-default","tag-productive","tag-talks"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1927970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/531"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1927970"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1927970\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1927971"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1927970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1927970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1927970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}