After debt ceiling talks have stalled between President Biden and MAGA Republicans, Biden said Sunday morning that proposals put forward by Republicans in negotiations as “unacceptable” and said he “can’t guarantee” Republicans won’t force a default.
Biden made the remarks at a news conference in Hiroshima, Japan, at the conclusion of a Group of Seven summit.
In his most blunt remarks so far on stalled negotiations, Biden said he won’t accept a deal that protects a “$30 billon tax break for the oil industry,” targets Medicaid, jeopardizes the jobs of teachers and law enforcement officers and “protects wealthy tax cheats and crypto traders” while putting food assistance at risk for low-income Americans.
“It’s time for Republicans to accept that there is no bipartisan deal to be made solely on their partisan terms. They have to move as well,” Biden said.
Biden said White House negotiators introduced a proposal that cuts spending by more than $1 trillion but said McCarthy and Republicans have balked at Democratic proposals to increase revenue through increased taxes on the wealthiest Americans and corporations. The White House wants to end some of the tax cuts passed in 2017 during the Trump administration.
Asked what happens if the nation defaults on its debt, Biden shook his head and walked away.