President Biden on Tuesday questioned House Republicans’ push to cut spending in exchange for raising the debt limit, asserting that his administration had already lowered the deficit and saved taxpayer dollars.
While there was no breakthrough, the White House is launching negotiations with House Republicans on government spending.
Senate Majority Leader Charles E. Schumer said the negotiations will be separate from raising the debt limit of roughly $31.4 trillion. Treasury Secretary Janet Yellen has warned Congress that the government will be unable to pay some of its obligations as soon as June 1. “The president asked all four of the leaders and himself to start sitting down as early as tonight … to see where we can come to an agreement on the budget and the appropriations process,” said Mr. Schumer, New York Democrat. “There are probably some places we can agree, in some places we can compromise hopefully.”and Senate Minority Leader Mitch Mcconnell, however, say any budget cuts will have to be paired with legislation raising the debt ceiling.
“Seven of the last ten debt limit increases were attached to bipartisan government spending deals,” said Mr. McConnell, Kentucky Republican. “All three of the debt limit increases from 2017 through 2020 were attached to bipartisan government spending deals. So there’s no reason why our country should be drifting toward crisis.”
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