Negotiations between the White House and Congress over the debt ceiling have been put on pause over the weekend as both sides continue to dig their heels in ahead of a looming default deadline — but President Joe Biden is expressing confidence it’s all part of the process.
“This goes in stages,” Biden told reporters in Japan on Saturday, adding that he’s “not at all” worried about the stalled negotiations. “The first meetings weren't all that progressive, the second ones were, the third one was.”
SENATE ADJOURNS FOR RECESS AS BIDEN-MCCARTHY DEBT LIMIT ROW HITS CRITICAL IMPASSE
The president’s comments come one day after House Speaker Kevin McCarthy (R-CA) temporarily put negotiations on “pause” due to disagreements on spending levels, only to send staff members back to the meeting room later that day. However, that meeting ended only an hour later, and negotiators have yet to reconvene since then.
Meanwhile, lawmakers on both sides have accused the other of refusing to make a deal, with the White House releasing a statement on Friday evening that criticized Republicans for promoting their “extreme MAGA priorities.”
However, Biden brushed off the disagreements as merely political showmanship, pointing to his previous experience making deals over the federal budget as evidence.
“I’ve been in these negotiations before,” he said. “What happens is that the carriers go back to the principals. They say, ‘This is what we're thinking about.’ And then people put down new claims. I still believe we'll be able to avoid a default and get something decent done.”
The stalled talks could throw a wrench in McCarthy’s plan to get legislation on the House floor as early as next week, an ambitious goal that the speaker said could be achievable. That bill would still need to be passed by the Senate to take effect, and senators have been advised they may need to return from recess early should a deal be made.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
The pressure is on for lawmakers to come to an agreement and get a bill passed as quickly as possible, with the country at risk of defaulting as soon as June 1, according to the deadline given by Treasury Secretary Janet Yellen.
The United States hit its debt ceiling on Jan. 19, raising fears of a default. At the time, Yellen said her agency would take “extraordinary measures” to prevent the U.S. from defaulting on its obligations, but those measures could be exhausted in the coming weeks.