Debt ceiling negotiations continue amidst political tensions.
TL;DR
President Joe Biden and Republican leaders are hopeful of reaching a deal to raise the US debt ceiling, following emergency talks at the White House. Without a deal, the US could enter a calamitous default on its $31.4tr debt as soon as 1 June, which could trigger global financial chaos. Republican leaders are demanding budget cuts and tougher work requirements on government aid recipients in exchange for support for raising the debt ceiling. Biden has repeatedly said that a potential debt default and budgetary issues should be separate.
Topics:nationpolitics#global-financial-crisis#joe-biden#negotiations#politics#republicans#us-debt-ceiling
- US debt ceiling: Biden and Republicans hopeful of a deal BBC
- AOC: Biden compromising with GOP on debt ceiling is 'profoundly destructive' Business Insider
- Progress made in White House debt limit meeting, talks to continue as U.S. rushes to prevent default CNBC
- Opinion | How Biden Blew It on the Debt Ceiling The New York Times
- Opinion | Why Can't Democrats Compromise on the Debt Ceiling? The Wall Street Journal
- View Full Coverage on Google News
Want the full story? Read the original reporting
Read on BBC