Republicans stall talks on US debt ceiling
Deputy appointed to lead the process alleges that conversations “are not being productive”
The White House and Republican congressmen interrupted this Friday (May 19, 2023) negotiations on the federal budget and the US debt ceiling. The suspension came with less than two weeks left before the end of the stipulated deadline for the US government to run out of funds to pay all its bills. The information is from CNBC.
“Until people are willing to have reasonable conversations about how you can really move forward and do the right thing, we’re not going to sit here and talk alone.”, said Deputy Garret Graves, a negotiator appointed by the Speaker of the House, Kevin McCarthy, to journalists this Friday (19.May), when leaving the Capitol. Graves said he doesn’t know if talks will resume this weekend.
In early May, US Treasury Secretary Janet Yellen these that the country may default on its debts by June 1. In a letter (full –143 KB, in English) sent to McCarthy, she emphasized that the government will not be able to fulfill its commitments “if Congress does not raise or lift the debt limit before that date”.
The definition of spending limits has been one of the most conflicting agendas in the negotiation. As the White House pushes for an increase in the debt limit, Republicans insist on a spending cap for next year that goes beyond a freeze on the current figure, reverting government spending to 2022 levels.
“We can’t spend more money next year”said McCarthy, to journalists this Friday (May 19). “We have to spend less than we spent the year before. It’s pretty easy”. US President Joe Biden is in Japan for the G7 leaders’ summit but cut his trip short to return to the US on Sunday to continue talks.