- The president is expected to appeal to Congress to raise the debt ceiling without conditions or delays during his visit to Valhalla, NY.
- There has been no resolution in the stalemate between the two sides on how to avoid defaulting on the financial obligations of the United States.
- Biden is expected to meet again with a bipartisan group of legislative leaders to discuss what needs to be reduced and safeguarded and how to reduce the deficit to clear the fiscal decks.
As the debate over the debt ceiling continues to escalate in Washington, President Biden is scheduled to visit New York on Wednesday to criticize Republicans and urge Congress to take immediate action to prevent default.
The POTUS' remarks follow a meeting with House Speaker Kevin McCarthy (R-Calif.) and other Democratic and Republican leaders that highlighted their growing bitterness and the deepening divide between the two parties, with only three weeks remaining to avert a financial crisis.
During his visit to Valhalla, NY, Joe Biden is expected to appeal to Congress to raise the debt ceiling, which limits the amount of money the United States can borrow to pay its bills, without conditions or delays, according to Washington Post.
If Congress does not act to raise or suspend this borrowing limit by June 1, the country may default, which many economists warn could trigger another recession.
Biden Still Willing To Discuss With Lawmakers
Despite ongoing discussions, there has been no resolution in the stalemate between the two sides on how to avoid defaulting on the financial obligations of the United States. The White House has made it clear that President Biden is not willing to yield. The president is arguing that budget and appropriations talks should include discussions on spending.
Biden also told the press that he notified congressional leaders that he is "prepared to begin a separate discussion" on budget and expenditure priorities, but not under the prospect of default, per USA Today.
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On Friday, Biden is anticipated to meet once again with a bipartisan group of legislative leaders, including House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer, and Senate Minority Leader Mitch McConnell.
Biden advised that the conversations should center on what needs to be reduced, and safeguarded, what fresh sources of money may be generated, and how to reduce the deficit to clear the fiscal decks.
Expert: Biden Has Power To Go Past Congress
Representative Jamie Raskin (D-Md.), an esteemed constitutional lawyer on Capitol Hill, has stated that President Joe Biden has a "clear constitutional command" to bypass Congress if necessary to prevent a default on the nation's debt obligations.
Raskin believes that President Joe Biden should exhaust all options to break the political stalemate, but failing that, he has the constitutional authority to act.
However, Raskin added that the constitutionality of invoking the 14th Amendment would depend on the specifics of President Biden's actions, per Politico. As there is little precedent on the issue, Raskin cautioned that the legality of such a move is uncertain.
Raskin also noted that the MAGA Republicans are placing pressure on both Joe Biden and House Speaker Kevin McCarthy by forcing them to choose between violating the Constitution or violating the debt limit statute.
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