(Washington) The White House confirmed Friday evening the upcoming meeting between President Joe Biden and Republican leader Kevin McCarthy, where the American debt ceiling, a subject of disagreement in Washington, will be discussed.
Although the menu of discussions includes this cap, White House spokeswoman Karine Jean-Pierre points out in a press release that a whole “panel of questions” will be discussed and that this conversation will simply constitute “one of the interviews ( conducted) with all parliamentary leaders to start the year”.
“The raising of the debt ceiling is not negotiable,” she insisted, however. “It is an obligation for this country and its leaders to avoid economic chaos. »
The United States reached its debt ceiling set by Congress this week, and elected officials must agree to raise it. The Treasury triggered “extraordinary measures” on Thursday to continue to meet its obligations and avoid default, pending a political agreement.
Joe Biden must therefore deal with the Republicans, who control the House of Representatives by a thin majority, and their leader, Kevin McCarthy, to find common ground and vote for an increase in the ceiling.
The latter had confirmed earlier on Friday to accept the president’s invitation “to sit down and discuss a responsible increase in the debt ceiling in order to deal with irresponsible public spending”.
His party is threatening to play for time in an attempt to force the Democrats to reverse certain federal government programs.
The White House said in its statement Friday to expect “a clear debate on two very different visions for the country – one that cuts social welfare spending, the other that protects it – and the president is happy discuss it” with the leader of the House of Representatives.
The date of the meeting with Kevin McCarthy is not yet known.
A default on US debt would “for sure cause a recession in the United States and could lead to a global financial crisis,” US Treasury Secretary Janet Yellen warned on CNN on Friday.
The current limit, $31.381 billion, was set by Congress in December 2021, after tense discussions.
Prior to that, lawmakers had raised or suspended the ceiling 78 times since 1960, most often without any particular difficulty.