Biden says Republicans must move away from ‘extreme positions’ in debt ceiling talks at G-7 summit

For example, Biden said he would not agree to work requirements Republicans are demanding on food assistance programs if GOP negotiators refuse to consider raising revenue. “I’m not going to agree to a deal that protects wealthy tax dodgers and crypto traders while putting food aid for nearly 1 million Americans at risk,” he said.

Biden suggested that invoking the 14th Amendment to raise the nation’s debt ceiling and avoid a possible default was still on the table, but not a move that could be used in the short term with a default deadline of a few weeks. .

“I think we have the authority. The question is whether we can do it in a timely manner,” Biden said. “I think that’s an unresolved question.”

The president talked at length about how he had reduced the nation’s deficit to $1.7 trillion. He said the current negotiations have already agreed to $1 trillion in cuts in core spending. He pushed Republicans to consider his call to raise revenue.

“Revenue is not off the table,” he said. “It’s time for Republicans to accept that there is no bipartisan deal — alone — on their partisan terms alone. They need to move, too.”

Noting all the twists and turns in the talks since leaving for Japan on Wednesday, Biden expressed hope that talks could get back on track once he returns to Washington.

“My guess is he’ll want to talk directly with me to make sure we’re all on the same page,” she said of the House leader.

“I believe Speaker McCarthy is waiting to negotiate with me.”

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