Monday , April 29 2024
Home / World / America will not default: Biden expressed confidence in the deal

America will not default: Biden expressed confidence in the deal

[ad_1]

Washington: US President Joe Biden has expressed confidence that America will not default. He not only hopes but is confident that America will be saved from debt default. He said talks with congressional Republicans have been constructive. He left for the G-7 Summit in Japan. But he is due back at the end of the weekend. They hope to ratify a concrete agreement by the end of the weekend. Biden’s remarks come at a time when Americans are counting the days of default.

A select group of negotiators tried to finalize a budget spending deal by June 1, paving the way for an increase in the debt ceiling. The Treasury Department says that if the deal doesn’t happen, the US could default on its debt obligations and cause financial chaos around the world.

Biden said from the Roosevelt Room of the White House that I am confident that we will be able to reach an agreement on the budget and that America will not go bankrupt. Then the talks began behind closed doors at the Capitol on Wednesday evening.

Democrat Biden and Republican House Speaker Kevin McCarthy have both spent weeks blaming each other over the debt ceiling crisis. But Biden said everyone came to the meeting with congressional leaders in the last session of the White House. I believe it was done in good faith and with good intentions.

McCarthy has expressed a similar belief, though he argues against Biden. The president says budget talks are separate from the debt ceiling issue. But the speaker said that Biden has retracted and refused to negotiate. Biden said that every leader agreed that America should not default on its debt obligations.