US President Biden has taken an aggressive stance against “reckless” Republicans.

0
59


US President Joe Biden comments on the debt ceiling from the White House State Dining Room in Washington on October 4, 2021. – AFP

WASHINGTON (Reuters) – President Joe Biden on Monday lashed out at Republicans over the growing threat of debt default, while pressuring his Democratic Party to implement a trillion-dollar domestic spending agenda.

Returning from a rare weekend at home in Delaware, Biden sank into the most fruitful period of his presidency so far.

On the one hand, it faces a Republican commitment to slow down and regain control of Congress in next year’s midterm legislative elections. Biden, on the other hand, is fighting Democrats over his infrastructure and social spending bills.

With a speech to the Republicans and a visit to Michigan on Tuesday to promote his household spending plans, the 78-year-old political veteran hopes to regain the initiative.

While Biden’s legacy may ultimately depend on an پ 1.2 trillion infrastructure package and a potential ڈالر 2 trillion or more social spending package, the entire U.S. and global economies face an immediate risk of potential debt default.

Biden on Monday called Republican opponents “reckless and dangerous” for refusing to join Democrats in raising the debt limit.

Biden said in a White House speech that the Republican hurdle could push our economy to a climax, and warned that he could not guarantee a timely solution.

“If I can, I’ll do it,” he said.

Treasury Secretary Janet Yellen has warned that if Congress does not relax the legal debt limit, the United States will not have the funds to meet its creditors’ obligations from October 18.

Congress has done so dozens of times in the decades since the debt ceiling was set, and votes are usually two-sided and free of drama.

This year, reflecting the extraordinary picture, Republicans are refusing to vote to lift the ceiling, indicating that they will also prevent Democrats from voting simply on a party basis.

Instead, the Senate is trying to force Republicans to use a complex ploy called reconciliation to take sole responsibility for raising debt. Democrats have so far refused, accusing Republicans of holding the country’s finances hostage.

The stalemate means that Democrats, who control the Senate with just one vote, find themselves entangled in trying to handle the debt crisis while trying to resolve internal differences over Biden’s spending packages.

On Monday, Senate Majority Leader Chuck Schumer said the debt limit should be voted on “by the end of the week, through a period.”

“We do not have the luxury of waiting until October 18, because it is our responsibility to reassure the world that the United States is fulfilling its obligations on time,” he said.

How much is enough

Biden, meanwhile, needs almost every four decades of his experience in the Senate and will spend eight years as vice president under Barack Obama trying to come up with a formula that would give his party’s left and more conservative wings Unite

His visit to a trade union training facility in Howell, Michigan, on Tuesday will try to highlight the White House’s argument that big spending plans are popular with voters and if Democrats fight their way through the entire legislature. Will be included in the agenda of the collapse

The moderates in the House and the Progressive Wing in the extremely strict Senate are refusing to go with the expected cost of social spending of 3.5 3.5 trillion. Progressives are rejecting the 1.5 trillion counter-offer.

Biden is now pushing for something in the 2 trillion range.

Although both camps are playing hardball, the progressives have refused to withdraw even a $ 1 trillion infrastructure component unless their major social spending targets are first guaranteed.

On Sunday, Schmidt said the goal was to “meet both bills next month,” adding another deadline for Biden’s team in the tense fall season.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here