“These negotiations should not take place with a gun … to the head of the American people,” Yellen said on ABC’s “This Week.”the president’s meetingSince Republican lawmakers took control of the House in January, they have tried to seize on the looming deadline to extract spending cuts and other policy concessions from the White House.
Biden and House Republicans have spent weeks digging in their heals as budget officials have warned of the consequences of not reaching a deal soon. The government has already hit the current $31.4 trillion debt limit and has been undertaking since January to pay its bills without borrowing even more money. Yellen warned Congress last week that the Treasury Department could run out of options to keep paying those bills as early as June 1 — sooner than had been expected.The Biden administration has said it is refusing to negotiate over raising the nation’s debt limit.
, who spoke on the condition of anonymity to reflect private conversations after the midterms with then-White House Chief of Staff Ron Klain, the administration’s position was: “You can’t negotiate with people who take hostages.”: “Avoiding default is Congress’s responsibility and they should act on it without preconditions,” adding that Congress “should do that immediately.”
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