The meeting of the American president with the leaders of the Republicans and the Democrats in the Congress, on the issue of increasing the borrowing limit of the federal state, ended in an impasse.
US President Joe Biden emphasized on Tuesday night [τις πρώτες πρωινές ώρες σήμερα ώρα Ελλάδας] that a default by the world’s largest economy is “not an option,” after his meeting earlier in the White House Oval Office with the Republican and Democratic leaders of Congress in which the parties remained unmoved, if not hardened their positions.
He also said it was “likely” he would postpone his planned tour of Asia at the end of the month – he plans to attend the G7 summit in particular – if a solution to the issue of raising the US federal government’s borrowing limit is not found.
In this case “I will not go, I will stay here until the issue is resolved”, he explained. He assured that he remains “committed” to participating in the summit of the leaders of the world’s seven most industrialized nations in Japan, but “obviously this is more important.”
Democrats and Republicans seem unable to agree on raising the U.S. borrowing limit, a congressional decision absolutely necessary for the federal government to be able to pay its bills, its workers and its creditors.
To avoid the risk of the country facing the unprecedented scenario of declaring a default, Mr. Biden said he would not rule out the possibility, although he is in talks with Republicans, to eventually invoke the 14th amendment of the US Constitution – to increase unilaterally the borrowing limit -, however, he acknowledged that there was a legal battle for this. “I’ve looked into” the 14th Amendment invocation, he said, adding that “that would need to be resolved judicially.”
Source :Skai
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