Top federal leaders move to avoid a financial default.
Following an event in New York City, President Joe Biden stated he is willing to negotiate spending cuts with Capitol Hill legislators, releasing his expectations of a “clean” debt ceiling increase. He indicated he wants to look at specific spending cuts that would have bipartisan support.
President Biden also said he might be willing to skip the G7 summit next week in Hiroshima, Japan, in order to get the debt ceiling matter concluded.
The president said he will meet with congressional leaders again on Friday in the Oval Office.
“I am squarely focused on what matters and we’re getting to work,” President Biden said. “As I’ve said all along, let’s discuss what we need to cut, what we need to protect, what new revenue we can raise and how to lower the deficit to put our fiscal house in order. But in the meantime, we need to take the threat of default off the table.”
Parties on both sides want to avoid a default on America’s obligations.
As the Lord Leads, Pray with Us…
- For the president and his advisors as they negotiate the debt ceiling.
- For members of Congress as they calculate government spending and funding.
Sources: Reuters, Townhall, CNN
