President Joe Biden is standing firm on debt ceiling negotiations and hitting out at MAGA Republicans who said they will refuse to back a deal without a series of spending cuts.
Biden is set to meet with the four congressional leaders next week in an attempt to reach agreement to increase the debt limit in order for the government to cover existing spending commitments already approved by Congress and the White House.
The Treasury Department said that failing to increase the debt limit would have “catastrophic” consequences on the U.S. economy as it would result in the government defaulting on its legal obligations. Because of this, Congress has always raised the debt limit when required, including three times under the administration of Biden’s predecessor, Donald Trump.
“The last thing this country needs after all we’ve been through is a manufactured crisis. And that’s what it is from beginning to end, it’s a manufactured crisis driven by the MAGA Republicans in Congress.”
Read more at Newsweek.com
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