A meeting is scheduled on Monday for debt ceiling negotiations between President Joe Biden and House Speaker McCarthy. However, the negotiations are almost over the weekend because Joe Biden described the GOP’s stance as unacceptable. Joe Biden takes this decision during a press conference before moving from Hiroshima. He declared this when he attended the G-7 leaders summit.
On Sunday, this decision was confirmed by both McCarthy and White House officials that they had discussed over the phone while Joe Biden traveled back to Washington. They also announce to meet in person on Monday afternoon, and their staff restarts negotiations after two days break.
In conversation with the reporter, McCarthy said the phone call was productive, but there is still no final agreement, and both sides have certain issues to solve. McCarthy is unhappy with Biden’s decision to change the debt on a debt ceiling negotiations while he was overseas.
He claimed that they were in a good position before Biden’s trip, but the situation became unstable upon his return. Negotiations are important to avoid a default that can cause severe consequences for the economy.
McCarthy retweeted that the White House is willing to start negotiations again; Tweet was released just before the White House’s statement was released. According to the statement the latest GOP offer was a significant step back and needed to be rewritten.
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