No deal on debt ceiling yet Biden to shorten Asia trip to focus on agreement

美, 두번째 부채한도 협상도 실패 바이든, G7 출장 일정 단축

Despite President Joe Biden and top congressional Republican Kevin McCarthy holding another round of talks on the U.S. debt ceiling, no deal has been made yet.
But both sides remain optimistic that a deal can get done by the end of this week, with Biden set to shorten his Asia trip to continue to focus on the talks.
Lee Seung-jae has more.

U.S. President Joe Biden has held another round of talks on the debt ceiling with House Speaker Kevin McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, and Vice President Kamala Harris.
While Biden and the congressional leaders failed to strike a deal on raising the debt ceiling once more to avoid the worst-case scenario of a U.S. default, there's optimism in the air, as McCarthy says a deal could happen by the end of this week.
The Democrats, however, were not as optimistic of a deal being reached in that time frame, but did call the meeting "productive and direct."
The Republicans are refusing to vote to lift the debt ceiling unless Biden and the Democrats agree to spending cuts in the federal budget.
With much room for discussion on the matter, the White House announced that while President Biden will leave for Japan this week to attend the G-7 Summit in Hiroshima, he may skip stops in Australia and Papua New Guinea.
This , as the June 1st deadline looms closer.
Meanwhile, U.S. Treasury Secretary Janet Yellen on Tuesday warned that "time is running out" for Congress to lift the debt ceiling and avert a default.
She stressed that every day that Congress is unable to strike a deal, there are increased economic costs that could slow down the U.S. economy.
Yellen argued that a default would reverse the country’s economic progress, sparking a recession, while at the same time disrupting services such as air traffic control, law enforcement, border security, and national defense.
Lee Seung-jae, Arirang News.

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2023-05-17, 09:00 (KST)