U.S. President Joe Biden’s showdown with Republicans over America’s debt ceiling nudged the U.S.and global economies closer to the brink on Tuesday, and thrust his coming trip through the Asia-Pacific region – part of the US leader’s plan to counter Beijing – into the spotlight.
Biden criticised for planning to attend G7 while debt ceiling is unresolved
". . .House Speaker Kevin McCarthy, who is expected to meet with Biden along with other congressional leaders later in the day, criticised Biden’s plan to attend the Group of Seven (G7) summit in Hiroshima, Japan, later this week, followed by a stop in Papua New Guinea. Biden is scheduled to end the tour in Sydney for a Quad summit.
“I think an American president should focus on the solutions for America. I think it shows your values and priorities,” McCarthy told Bloomberg News about Biden’s trip.
Democrats have sought a simple vote on a bill to raise the government’s US$31.4 trillion borrowing limit – thus covering allocations Congress has already approved – but Republicans are tying their approval to spending cuts they seek in the federal budget.
House Speaker Kevin McCarthy, Republican of California, has tied raising the US debt ceiling to spending cuts in the federal budget. Photo: AP
US House speaker criticises Biden’s plan to attend G7 summit while debt ceiling issue is unresolved
- Speaker
Kevin McCarthy and other Republicans continue to tie passage of a bill
that would avoid US default to budget spending cuts
- US President Joe Biden is expected to host
negotiations at the White House amid warnings that a default could occur
as early as June
Updated: 2:41am, 17 May, 2023
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