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Search resuls for: "Daniel Pfeiffer"


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The US could breach the debt ceiling and run out of money to pay its debts as soon as June 1. A White House official previously told Insider that Biden would stress that Congress "must take action to avoid default without conditions." Additionally, Wall Street's response to the debt-ceiling crisis is different this time around. Even so, he added, this debt-ceiling crisis "seems much more dangerous" than the ones from the Obama years. Biden has options to avoid a debt-ceiling crisis that don't involve CongressTuesday's meeting between Biden and congressional leadership aims to break through the logjam.
When President Biden meets with congressional leaders at the White House on Tuesday, he will most likely reiterate his position that Congress should pass a bill lifting the debt ceiling without negotiations or conditions. A poll from Echelon Insights showed that voters support the idea of negotiating over the debt limit. But from the perspective of someone who had a front-row seat inside the White House to the last two debt-limit standoffs between a Democratic president and a Republican House, Mr. Biden’s refusal to negotiate on the debt ceiling is the best strategy. The president must know that Mr. McCarthy is not a negotiating partner who can be trusted to deliver. The speaker’s fate is in the hands of representatives — including many House Freedom Caucus members — who have shown very little willingness for compromise or good-faith negotiation.
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