White House officials said Monday that the plans to attend the G-7 summit in Japan, with stops in Papua New Guinea and Australia, had not changed despite the ongoing debt talks.Īsked whether the president should go abroad at this point, McCarthy said, “I think an American president should focus on the solutions for America. McCarthy emphasized that staff-level meetings are “not productive at all” and that negotiations were “not in a good place.” His remarks came shortly after Biden told reporters in Philadelphia on Monday that the meeting was set-a day after confirming it was in the works.īiden is expected to depart for Asia on Wednesday, on a trip intended to showcase US determination to address strategic competition with China. Related: Yellen Warns US Paying Price as Negotiators Battle on Debt Limit The livelihoods of millions of Americans “hang in the balance,” she said in excerpts of her speech released by the Treasury. The Treasury chief issued a fresh letter to congressional leaders Monday restating that the Treasury risks running out of sufficient cash for all federal obligations as soon as June 1. “The impasse has already increased the debt burden to American taxpayers.” “We are already seeing the impacts of brinksmanship: investors have become more reluctant to hold government debt that matures in early June,” Yellen said in remarks prepared for delivery to a banking conference today. While senior staff have been negotiating for days, Republicans are still pressing for sweeping spending cuts, while Democrats are determined to protect the president’s legislative achievements. The two sides showed little signs of agreeing on much else than the countdown in the run-up to the second White House encounter on the debt ceiling in two weeks. Janet Yellen speaks at an event in Atlanta, Georgia.
0 Comments
Leave a Reply. |