He reaffirmed the U.S. commitment to avoiding debt default.
President Joe Biden has called on House leadership to release a budget proposal for Americans to see for themselves. The House majority has been promoting tax cuts and reduced spending to stay under budget instead of raising the debt ceiling again. However, plans as to which parts of the current budget they would like to see cut have been vague.
At a speaking engagement for a meeting of Washington county officials this week, the president said he has asked Speaker of the House Kevin McCarthy to lay out his budget to have a specific starting point for negotiations.
“I’m simply not going to let the nation default on its debt for the first time in history,” President Biden said. “I suggested [to McCarthy], instead of making threats about the debt ceiling, which would be catastrophic, let’s just lay out our budgets.”
As the Lord Leads, Pray with Us…
- For discernment for the president and his administration as they set goals for the national budget.
- For Speaker McCarthy and members of Congress to seek God’s wisdom regarding the nation’s debt load and spending.
Sources: Reuters, Bloomberg
