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A2 u.s. news
Monday 15 May 2023
Biden, congressional leaders likely to meet Tuesday
By SEUNG MIN KIM Washington on Monday
Associated Press and is scheduled to leave
REHOBOTH BEACH, Del. for the Group of 7 summit in
(AP) — President Joe Biden Japan on Wednesday.
and congressional lead- Biden did not detail much
ers will likely resume talks progress in the talks, but
on Tuesday at the White said he remained hopeful
House over the debt limit, that an agreement could
the president said Sunday, be reached with Republi-
as the nation continues to cans to avoid what would
edge closer to its legal bor- be an unprecedented
rowing authority with no debt default, which could
agreement in sight. trigger a financial catastro-
The meeting was initially phe.
supposed to be Friday, but "I remain optimistic be-
was abruptly postponed so cause I'm a congenital
staff-level talks could con- optimist," Biden told re-
tinue before Biden and the porters while out for a bike
four congressional leaders ride in Rehoboth Beach,
huddled for a second time. Delaware. "But I really think
Administration and con- there's a desire on their part
gressional officials said Sun- as well as ours to reach an
day that a meeting has not agreement. I think we'll
been finalized, although be able to do it."Aides President Joe Biden speaks to members of the media as he goes on a bike ride in Gordons Pond
Tuesday was the likeliest said talks had continued
option as Biden returns to throughout the weekend.
State Park in Rehoboth Beach, Del., Sunday, May 14, 2023.
Associated Press
But at least publicly, there stalemate. White House
was little indication that and congressional aides
either the White House or have been in talks since
House Republicans had Wednesday.
budged from their initial "The staff is very engaged.
positions. Biden has called I would characterize the
on lawmakers to lift the engagement as serious, as
debt limit without precon- constructive," Lael Brain-
ditions, warning that the ard, head of the White
nation's borrowing author- House's National Economic
ity should not be used to Council, said on CBS' "Face
impose deep spending the Nation." An increase in
cuts and other conserva- the debt limit would not au-
tive policy demands. thorize new federal spend-
"We've not reached the ing. It would only allow for
crunch point yet," Biden borrowing to pay for what
told reporters Saturday Congress has already ap-
before flying to his beach proved. The Treasury De-
home for the weekend. partment has said the gov-
"There's real discussion ernment could exhaust the
about some changes we ability to pay its bills as early
all could make. We're not as June 1. The nonpartisan
there yet." Congressional Budget Of-
On Sunday, senior admin- fice gave a similar warning
istration officials said the Friday, saying there was a
talks among staff had so "significant risk" of default
far been productive af- sometime in the first two
ter Biden and the leaders weeks of next month.
— House Speaker Kevin But federal estimates still re-
McCarthy, R-Calif., House main in flux.
Democratic leader Ha- The CBO noted Friday that
keem Jeffries of New York, if the cash flow at the Trea-
Senate Majority Leader sury and the "extraordinary
Chuck Schumer of New measures" that the depart-
York and Senate Republi- ment is now using can con-
can leader Mitch McCo- tinue to pay for bills through
nnell of Kentucky — end- June 15, the government
ed their first meeting last can probably finance its
Tuesday without a break- operations through the
through. end of July. That's because
The president described the expected tax revenues
that Oval Office session as that will come in mid-June
"productive" even though and other measures will
McCarthy said later he give the federal govern-
"didn't see any new move- ment enough cash for at
ment" toward resolving the least a few more weeks.q