Speaker and President Joe Biden will meet on Wednesday, Photo: File
Washington: Fears of the bankruptcy of the United States under the burden of debt have increased, on which the Speaker of the House of Representatives agreed to meet with President Joe Biden.
According to the world news organization, Kevin McCarthy, who was barely elected as the speaker after many times of voting because the number of government and opposition members in the US House of Representatives is more or less equal, finally decided to meet with President Joe Biden.
It should be noted that the approval of further borrowing to cover government spending is required by the House of Representatives, which is majority-opposed, whose speaker is Kevin McCarthy, a member of Trump’s party and has avoided meeting with President Joe Biden since his election. Were.
Regarding this unexpected meeting, the newly elected speaker said on a TV talk show that he will meet with President Joe Biden on Wednesday to discuss the country’s bankruptcy concerns and cut government spending.
Speaker Kevin McCarthy added that the United States will not default on its national debt, but government spending, which reached the $31.4 trillion spending limit in June, must be assured by the Biden administration not to increase it.
A speaker from Trump’s party warned that the government cannot spend more than it collects in taxes annually to pay for its spending. Similarly, the loan limit also needs to be fixed.
On the other hand, President Joe Biden and members of his party Democrats want approval to increase the debt limit linked to future spending, but in the House of Representatives, the opposition party Republicans have 10 more members than the government members.
The opposition party, based on a numerical majority, has called for limits on new spending to curb annual deficits that exceed $1 trillion a year.