Office of Management and Budget Director Shalanda Young joined press secretary Karine Jean-Pierre at her White House briefing on Tuesday as congressional leaders meet with lawmakers to sell the debt ceiling deal reached between President Biden and House Speaker Kevin McCarthy.
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White House officials have been discussing a potential debt ceiling deal, as they push for support from lawmakers on both sides of the aisle.
The Treasury Department has warned that the U.S. government will run out of money to pay its bills in October if lawmakers do not raise or suspend the debt ceiling. This has led to negotiations between the White House and Congressional leaders on a potential solution.
On Wednesday, White House Press Secretary Jen Psaki said that they were “working with leaders in Congress from both parties to ensure the debt ceiling is raised or suspended,” adding that “this is a shared responsibility, and we expect Congress to act in a timely manner.”
The discussions are said to include potential compromises, such as tying the debt ceiling increase to other legislation or budget cuts. However, there is still a divide between Democrats and Republicans on the issue.
Republicans have said they will not support an increase in the debt ceiling without significant spending cuts or reforms. Meanwhile, Democrats have emphasized the urgency of addressing the issue and have called for a clean debt ceiling increase without any other conditions.
President Biden has also called on Congress to act, saying in a statement last month that “failure to raise the debt limit would be catastrophic.”
In addition to negotiations on the debt ceiling, White House officials are also working on passing the infrastructure bill and the budget reconciliation package. These measures have faced their own set of challenges and opposition from lawmakers on both sides of the aisle.
The discussions come as the U.S. continues to recover from the economic impact of the COVID-19 pandemic. The government has spent trillions of dollars on relief measures, and the debt ceiling increase is seen as crucial to prevent a potentially devastating default on U.S. debt.
The full video of the White House officials discussing the debt ceiling deal has been made available in English. It provides an in-depth look at the negotiations and the various issues and concerns at play.
As the discussions continue, it remains to be seen whether lawmakers will be able to reach a compromise on the debt ceiling. The stakes are high, and the consequences of inaction could be severe.
Full Video: White House Officials Discuss Debt Ceiling Deal While Seeking Support appeared first on Inflation Protection.
