{"id":1933239,"date":"2023-05-18T09:10:39","date_gmt":"2023-05-18T13:10:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-optimistic-about-debt-ceiling-deal-defends-asia-trip\/"},"modified":"2023-05-18T09:13:26","modified_gmt":"2023-05-18T13:13:26","slug":"biden-optimistic-about-debt-ceiling-deal-defends-asia-trip","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-optimistic-about-debt-ceiling-deal-defends-asia-trip\/","title":{"rendered":"Biden hopeful for debt ceiling agreement, justifies Asia visit."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/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-optimistic-about-debt-ceiling-deal-defends-asia-trip%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=1933239&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 Optimistic About Reaching Agreement on Debt Ceiling<\/h2>\n<p>President Joe Biden expressed optimism that the United States won\u2019t default on its financial obligations and that an agreement on spending priorities will be reached in the coming days, ahead of his departure on a trip to strengthen U.S. relationships with allies.<\/p>\n<p>\u201cAmerica is not a deadbeat nation. We pay our bills. The nation has never defaulted on its debt, and it never will. And we\u2019re going to continue these discussions with congressional leaders in the coming days until we reach an agreement,\u201d the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/watch-biden-claims-twice-that-350-million-americans-have-been-vaccinated-more-than-u-s-population\/\" title=\"WATCH: Biden Claims Twice That 350 Million Americans Have Been Vaccinated, More Than U.S. Population\">president told reporters<\/a> at the White House on May 17.<\/p>\n<h3>Assurance for the Future<\/h3>\n<p>The remarks appear intended to offer assurance that the monthslong standoff between the president and House Speaker Kevin McCarthy (R-Calif.) over raising the nation\u2019s $31.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-reject-matched-spending-cuts-setting-up-debt-ceiling-showdown-with-gop\/\" title=\"Dems Reject Matched Spending Cuts, Setting Up Debt Ceiling Showdown With GOP\">4 trillion debt ceiling<\/a> would soon be resolved, despite his absence from the country for four days.<\/p>\n<p>Biden will attend the G-7 Summit in Hiroshima, Japan, along with leaders from France, the UK, Germany, Japan, Italy, and Canada. The trip will include meetings with the leaders of India and Australia, although side trips to Australia and Papua New Guinea were postponed due to the debt negotiations.<\/p>\n<h3>Productive Meeting<\/h3>\n<p>The president met with McCarthy on May 16 to discuss the debt ceiling, spending caps, and other provisions proposed by Republicans. Vice President Kamala Harris, Senate Majority Leader Chuck Schumer (D-N.Y.), Senate Minority Leader Mitch McConnell (R-Ky.), and House Minority Leader Hakeem Jeffries (D-N.Y.) also attended. It was the second such meeting in eight days.<\/p>\n<p>\u201cWe had a productive meeting yesterday and\u2014with all four leaders of the Congress. It was civil and respectful,\u201d Biden said. \u201cAnd everyone came to the meeting, I think, in good faith. I\u2019m confident that we\u2019ll get the agreement on the budget, that America will not default.\u201d<\/p>\n<h3>The Crux of the Problem<\/h3>\n<p>The president and the speaker had been in a standoff over raising the nation\u2019s $31.4 trillion debt ceiling since January.<\/p>\n<p>The country usually operates on a deficit budget, so borrowing is needed each year to meet the spending obligations legislated by Congress. The Treasury will be unable to stay under the limit after about June 1, according to Secretary Janet Yellen, meaning that the government will no longer be able to meet its financial obligations if the debt limit isn\u2019t raised.<\/p>\n<p>Biden has insisted that the debt ceiling must be raised without pre-conditions to preserve the full faith and credit of the United States, a position he still tries to maintain while engaging in talks about both subjects.<\/p>\n<h3>Republican Opposition<\/h3>\n<p>Republicans have consistently insisted that the two items must be linked. McCarthy has said that there will be no \u201cclean debt limit,\u201d meaning an increase without some agreement on spending limitations.<\/p>\n<p>House Republicans approved the Limit, Save, Grow Act in April, which would raise the debt ceiling by $1.5 trillion, which experts say would carry the government through March 2024.<\/p>\n<p>The proposal would also:<\/p>\n<ul>\n<li>Lower discretionary spending to the 2022 level<\/li>\n<li>Cap spending growth at 1 percent annually for a decade<\/li>\n<li>Strengthen work requirements for some recipients of federal assistance<\/li>\n<li>Claw back unspent COVID-19 relief funds from the states<\/li>\n<li>Loosen regulations on oil and gas drilling<\/li>\n<\/ul>\n<p>A number of Senate Republicans publicly offered support for the Limit, Save, Grow Act at a bicameral press conference at the U.S. Capitol minutes after the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-biden-calls-for-everyone-under-15-to-take-pictures-at-white-house-atlanta-braves-event\/\" title=\"Joe Biden Calls for \u201cEveryone Under 15\u201d to Take Pictures at White House Atlanta Braves Event\">president finished speaking<\/a>.<\/p>\n<p>\u201cWe won\u2019t <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-optimistic-about-debt-ceiling-deal-defends-asia-trip\/\" title=\"Biden hopeful for debt ceiling agreement, justifies Asia visit.\">support bringing debate<\/a> to a close on any <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-calls-on-congress-to-move-forward-on-raising-debt-ceiling\/\" title=\"Biden Calls On Congress To \u2018Move Forward\u2019 On Raising Debt Ceiling\">debt ceiling increase<\/a> that does not contain substantive spending and budgetary reforms,\u201d Sen. Mike Lee (R-Utah) said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden is hopeful that the US will avoid defaulting on its financial obligations and reach an agreement on spending priorities before his trip to strengthen relationships with allies. He emphasized that the US pays its bills and is not a deadbeat nation.<\/p>\n","protected":false},"author":1793,"featured_media":1933240,"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":[5877,5208,3620,10142,5487,4566,27053,7241],"class_list":["post-1933239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-agreement","tag-asia","tag-biden","tag-ceiling","tag-debt","tag-hopeful","tag-justifies","tag-visit"],"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\/1933239","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\/1793"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1933239"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1933239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1933240"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1933239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1933239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1933239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}