Biden “very optimistic” about the possibility of a debt ceiling agreement

The president of USA, Joe Bidensaid this Friday that he feels “very optimistic” about the possibility that an agreement with the Republicans will soon be reached to raise the debt ceiling.

“Things are looking good, I am very optimistic”said the president before leaving by helicopter for Camp Davidrest residence of the US president.

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Biden He added that he hopes to find out as soon as tonight if they will be able to reach an agreement.

The comments are the first he has made since Treasury Secretary Janet Yellenwill update its estimate of the deadline after which the country could find itself in default if the Congress does not first agree to raise or suspend the debt ceiling.

Yellen informed the Congress that the date will be June 5th. In previous estimates, the Treasury had indicated that USA it could face a default as early as June 1.

Talks between Republicans Congress and the White House They continued this Friday, with no official announcement that they have yet reached a compromise.

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On Thursday night, various US media, including the daily The New York Times, reported that sources close to the talks said a deal could be announced “soon.”

The possible deal would raise the debt ceiling for two years and impose caps on discretionary government spending. Governmentexcept for military or veterans affairs, advanced The New York Times.

Unlike most countries, USA It can only borrow up to the limit set by Congress – the debt ceiling – which requires legislative agreement each time the country needs to raise it to meet its debts.

The current debt ceiling of $31.4 trillion was reached in January.

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Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.