No progress in US debt limit talks | Latest News | World | Business News Updates | WION

our top story with less than two weeks

before the 1st of June all eyes are on

Washington the talks over increasing the

U.S debt limit are set to continue on

Sunday Speaker of House Kevin McCarthy

and President Joe Biden discussed their

differences over the phone the back and

forth between lawmakers and almost

everyone has almost everyone on edge

here with markets here preparing for the

worst what really stands out is Biden's

decision to

continuous spending the Republicans

however lowered their demands on

spending caps from 10 years to 6 years

over the weekend McCarthy accused the

White House of going back on its word in

negotiations while Biden's

Administration called the Republicans

budget proposal a big step back the

volley accusations between the political

parties suggests this will go down the

wire treasury secretary Janet Yellen

said on Sunday that the chances that the

United States can pay all its bills by

the mid by mid-june are quite low

after the phone call with Biden McCarthy

seems to be confident of a deal

look the thing I counted for um

I don't know the Senate as well and I

haven't spoken to Schumer uh leader

Schumer I was given him seven days he

told me he doesn't really probably need

that much time we need to post a bill to

whatever we agree to it take some time

to write it we have to have it three

days 72 hours before we could vote on it

then it would go to the Senate no we

don't have an agreement yet so once we

if we are able to come to an agreement

that I could have a Time

now the differing views have been

evident so far in the negotiations

installed talks of course the president

has been certain that he would not sign

a bill that reduces funding for health

care and education while protecting tax

intensives for the rich and the fossil

fuel and pharmaceutical sectors one told

reporters that he had proposed Cuts in

expenditure and it was now on to the

Republicans to adjust their demands

better

it's time for Republicans to accept that

there is no bipartisan deal

to be made solely solely on their

partisan terms they have to move as well

all four Congressional leaders agree

with me that that default is not let me

say it again default is not an option

and I expect each of the I expect each

of these leaders excuse me to live up to

that commitment

America has never defaulted never

defaulted on our debt and it never will

the Novus retail continues even as the

political bickering pushes the U.S

towards a catastrophic default

nonetheless investors might not be ready

if the United States does default a Bank

of America survey showed 71 percent of

the investors they're hopeful that a

solution will be reached

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