When asked if Republicans were negotiating in good faith, the President responded, "It goes in stages," before being interrupted by another reporter. He then said, "Shush up okay."
Despite the interruption, Biden continued to explain that negotiations were progressing in stages, with the first meetings not being all that progressive, but the second and third meetings being more so. He added that carriers go back to the principles and put down new claims. He concluded by saying that he still believed they would be able to avoid default and get something decent.
May 22, 2023
Congress is currently in negotiations to raise the national debt limit, with the Treasury Department warning that the US would default on its debts if a deal is not struck by June 1st. During the press conference, the President called the Republicans' proposals "unacceptable" and urged them to move forward with a bipartisan deal.
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Speaker of the House Kevin McCarthy (R-CA) and President Biden spoke on Sunday while the President was on his way home from Japan. McCarthy said that the discussion was productive, but he has been clear with the President from the beginning that they have to spend less money than they spent last year. Before their conversation, McCarthy criticized the White House for proposing to spend billions more next year than they spent this year.
Republicans are proposing to increase defense spending while cutting the rest of the budget and extend the Trump-era tax cuts. The two are expected to meet in person on Monday to make a deal to avoid default.
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