According to the Treasury, White House press secretary Karine Jean-Pierre stated that President Joe Biden has no plans to work with Congress to avert a potential default as soon as June 1. The disclosure comes amid reports from TASS.
Jean-Pierre emphasized that Biden has made it explicit that stopping a default is a constitutional duty of Congress, not something that can be resolved through dialogue with the executive branch alone.
She referenced a prior assertion that former President Donald Trump raised the debt limit on three occasions, noting that there should be no deviation from that precedent this time around.
In her remarks, the national debt ceiling was described as something that must be increased without conditions, a stance that underscores the administration’s position on the debt limit and fiscal policy.
Meanwhile, Kevin McCarthy, the former Speaker of the U.S. House of Representatives, addressed charges against President Biden and his administration. McCarthy accused the Biden team of resistance to addressing the debt situation, a stance he argues risks pushing the United States toward default and the associated consequences for the economy and financial markets.