President Joe Biden talks with reporters after speaking in the East Room of the White House to mayors who are attending the U.S. Conference of Mayors winter meeting in Washington, Friday, Jan 20, 2023.
Obama agreed to negotiate big spending cuts with Republicans before the 2012 presidential election because he knew he was ultimately responsible for the health of the U.S. economy, which would have taken a major hit if the federal government had defaulted on its debt obligations in 2011. Conrad said he understands why Democrats refused to negotiate with Republicans on raising the debt limit during Obama’s second four years in office, but he expects Biden to sit down with Republicans this year on the issue. Conrad said a negotiation between Biden and Republicans in Congress would be an “opportunity to deal with some of the long-term challenges facing the country.”
“In the end, I think the likelihood is the agreement will come out of the Senate and the House will be forced to take it. McConnell’s view is, ‘We’re not going to default,’” he said. “We have to work together. It’s bipartisan, it’s always been bipartisan as far as the debt ceiling,” Manchin told Fox Business in an interview in Davos, Switzerland. “I think what we have to do is realize that we have a problem. We have a debt problem.”
Besides Manchin, who hasn’t said whether he plans to run for reelection next year, vulnerable Senate Democrats include Sens. Jon Tester in Montana, Sherrod Brown in Ohio and Jacky Rosen in Nevada, as well as Independent Sen. Kyrsten Sinema will be watching the debt ceiling maneuverings closely. “Mr. Schumer and others are talking about, ‘We can do what we did in ’21 and that’s just hold out and Republicans will cave,’ I don’t think that’s realistic when you have a divided Congress,” said Bill Hoagland, senior vice president at the Bipartisan Policy Center and a former Senate Republican leadership aide.
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