Biden 'confident' there will be no U.S. debt default
President Joe Biden said Wednesday that he was “confident” that the U.S. would avoid an unprecedented and catastrophic debt default, saying the talks were productive as he prepared to leave for a global summit in Japan
By SEUNG MIN KIM and LISA MASCARO
Published - May 17, 2023, 11:28 AM ET
Last Updated - Jun 21, 2023, 06:42 PM EDT
WASHINGTON (AP) — President Joe Biden said Wednesday that he is confident the U.S. will avoid an unprecedented and catastrophic debt default, saying talks with congressional Republicans have been productive as he prepared to leave for a global summit in Japan.
The president and House Speaker Kevin McCarthy, R-Calif., tasked a handful of negotiators to try and close out a final deal, with negotiations beginning late Tuesday. Those people include Steve Ricchetti, counselor to the president; legislative affairs director Louisa Terrell and Office of Management and Budget director Shalanda Young for the administration, and Rep. Garret Graves, R-La., a close McCarthy ally, for the Republicans.
