Debt Limit Is Finally Being Addressed By President Joe Biden

debt limit
debt limit

The Republicans must be very happy. They have been trying so hard for months already to come to a consensus with the President. Things are coming true. Of course, the president perhaps didn’t have the time to sit and talk about Debt limit issues in the country. His hands have been full of responsibilities and campaigns for upcoming elections. The meeting is going to take place on 16th May, Tuesday. Preliminary they have thought of cutting spending all over. Protect covid-19 relief fund for future crises if any.

Four Congressional Leaders Would Be Joining President Joe Biden On Debt Limit Discussion

Both parties are trying to find common ground. They need to come to a consensus before releasing any kind of statement. The Republicans haven’t been great fans of Joe Biden lately. He has been delaying the debt limit discussion since January. Kevin McCarthy, Hakeem Jeffries, Chuck Schumer, and Mitch McConnell are going to be a part of the debt limit discussion.

All of them, especially Kevin McCarthy and Mitch McConnell, have been able to see Joe Biden eye to eye. Due to their differences. They had a preliminary discussion last week. There is still a skeptical situation about the May 16th meeting. However, they have planned to include some cuts in spending that must be happening. Yet there are things to materialize. They still have option B left, negotiate. If option A fails in any way.

1st June is not far. They still have yet to find a clear path on the debt limit. They are time-crunching. Debt limit discussion has been on hold due to President Joe Biden’s busy schedule. He is leaving for Japan on Wednesday.

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