washington [US]May 29 (ANI): US President Joe Biden said on Monday that the only way forward for the US is a bipartisan budget deal and urged Congress to pass it.
“We’ve got a bipartisan budget deal that we’re ready to present to the full session of Congress, and I think that’s a very important step forward,” Biden said in remarks on the bipartisan budget deal on Monday.
“The Speaker and I have made it clear from the beginning that the only way forward is a bipartisan agreement, which is now in the United States House of Representatives and Senate,” Biden said.
He further said: “I strongly urge both houses to pass this agreement. Let us move forward and meet our obligations to build the strongest economy in the history of the world.”
The US president said the agreement represented a compromise and that no one got everything they wanted, “but it is the responsibility of governing”.
“I’m sure you’ll see for the American people that for the first time in the history of our country, this agreement has prevented the worst possible crisis of default,” he said.
“It also protects the key priorities, accomplishments, and values that congressional Democrats and I have long fought hard to invest in America’s agenda,” he added.
The Washington Post recently reported that U.S. President Joe Biden and House Speaker Kevin McCarthy had reached an “agreement in principle” on raising the debt ceiling and limiting federal spending.
The deal is an important step in preventing a possible government default nine days from now.
The new blueprint raises the legal maximum the state can borrow to pay its bills until 2025, according to The Washington Post. It also essentially freezes domestic spending and imposes new job requirements on some Americans who receive nutrition assistance from the federal government. A person familiar with the sensitive conversation spoke on condition of anonymity.
Some outlines of the new deal reflect initial demands from Republican lawmakers after they took control of the House of Representatives in January and laid out a strategy to use the debt ceiling to achieve their policy agenda while ignoring repeated warnings that their brinkmanship could tip the country into recession . McCarthy is expected to brief his party members on a conference call at 9:30 p.m.
Even before Biden and McCarthy unveiled their plan, some Democrats and Republicans had begun to denounce its size and scope, underscoring the daunting task facing the two leaders of navigating a trap-prone, narrowly divided House and Muscle legislation in the Senate, about a week away. (Arney)
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