White House and Republican congressional negotiators were quiet after meetings on raising the federal $31.4 trillion debt ceiling failed, while President Biden said he believed a default could be avoided
White House Press Secretary Karine Jean-Pierre noted in a statement that Biden and Republican House of Representatives Speaker Kevin McCarthy had agreed that any budget agreement would need to be bipartisan and accused Republicans of offering proposals too far to the right to pass Congress.
"Unfortunately, the White House moved backwards," McCarthy said, adding that the "socialist wing" of the Democratic Party appeared to be in control.[1/2] A source familiar with the negotiations said Republicans had proposed an increase in defense spending, while cutting overall spending. The source also said House Republicans want to extend tax cuts passed under former President Donald Trump, which would add $3.5 trillion to the federal debt.
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