Kevin McCarthy presses Joe Biden to negotiate debt ceiling impasse ...Middle East

Business Standard - Economy
Kevin McCarthy presses Joe Biden to negotiate debt ceiling impasse
source : Business Standard ( Middle East ) () 35
House Speaker Kevin McCarthy, R-Calif., said on Tuesday he's increasingly concerned about President Joe Biden's unwillingness to negotiate on lifting the nation's borrowing authority, saying in a letter to the president that the White House position could "hold dire ramifications for the entire nation. Rather than open direct talks on the debt ceiling, which the Democrats agree must be raised, Biden and his party's lawmakers are challenging Republicans to publicly present their own budget proposals something McCarthy has so far declined to do. For now, the Treasury Department has resorted to extraordinary measures to avoid default on the nation's USD 31.4 trillion borrowing authority. But t

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