crisis seemed “very close” late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5 and seemed likely to drag negotiations between the White House and Republicans into another frustrating week.laid out in a letter from Treasury Secretary Janet Yellen, set the risk of a devastating default four days later than an earlier estimate. It came as Americans and the world watched with concern negotiating brinkmanship that could throw the U.S.
Republicans have made some headway in their drive for steep spending cuts that Democrats oppose. However, the sides are particularly “dug in” over McCarthy’s demands for tougher work requirements on government food stamp recipients that Democrats say is a nonstarter.and the White House had hit “crunch” time, straining to wrap up an agreement with Biden as lawmakers broke for the long Memorial Day holiday weekend.
In remarks optimistic comments earlier at the White House before Yellen’s letter was released, Biden gave a shoutout to one of thisHe was referring to Office of Management and Budget Director Shalanda Young who attended a salute to the Louisiana State women’s national basketball champions. Weeks of negotiations between Republicans and the White House have failed to produce a deal — in part because the Biden administration resisted negotiating with McCarthy over the debt limit, arguing that the country’s full faith and credit should not be used as leverage to extract other partisan priorities.One idea is to set the topline budget numbers but then add a “snap-back” provision to enforce cuts if Congress is unable during its annual appropriations process to meet the new goals.
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