On Saturday, White House Press Secretary Karine Jean-Pierre expressed disappointment with an offer presented by the team of US Republican House Speaker Kevin McCarthy in ongoing negotiations to raise the US debt limit. Jean-Pierre characterized the offer as “a big step back” and criticized it for containing extreme partisan demands that would be unlikely to pass both Houses of Congress. She reiterated the Biden administration’s commitment to bipartisan collaboration and emphasized their readiness to meet and consider proposals that can garner bipartisan support.
Jean-Pierre further highlighted that the Republican leadership, particularly those aligned with the MAGA wing, is the source of the threat to push the nation into default by refusing to meet the administration’s calls for compromise. This potential default would mark an unprecedented event in US history.
On Thursday, McCarthy expressed his belief in finding a path to an agreement with the White House on raising the debt limit but clarified that no specific agreement had been reached yet. He expressed hope for a resolution by the weekend and anticipated that lawmakers could bring relevant legislation to the floor for consideration next week.
The impasse between the White House and the GOP leadership raises concerns about the potential consequences of failing to raise the US debt limit. As the clock ticks, urgent action is needed to avoid a crisis that could have severe ramifications for the nation’s economy and financial stability.
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