• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Biden sits at a desk in front of an American flag.

Biden and Top Republican Express Confidence in Avoiding Debt Default

05/17/2023
Made in USA stamp on paper next to American flag - Supply Chain News

White House: Preference for U.S. Goods Eases Tariff Inflation

07/15/2025
Tariff Concerns Remain in Focus as Traders Eye US Inflation Data

Tariff Concerns Remain in Focus as Traders Eye US Inflation Data

07/15/2025
Japan Maintains Diplomatic Approach Amid Proposed US Tariffs

Japan Maintains Diplomatic Approach Amid Proposed US Tariffs

07/15/2025
Trump Announces New Tariff Plan and Additional Defense Support for Ukraine

Trump Announces New Tariff Plan and Additional Defense Support for Ukraine

07/15/2025
EU Signals Possible Countermeasures Following Proposed US Tariffs

EU Signals Possible Countermeasures Following Proposed US Tariffs

07/15/2025
Netanyahu at White House as Trump Hints at New Tariffs

Netanyahu at White House as Trump Hints at New Tariffs

07/08/2025
Reciprocal Tariff Deadline Extended to August 1 as Trump Renews Duty Threats

Reciprocal Tariff Deadline Extended to August 1 as Trump Renews Duty Threats

07/08/2025
Trump Extends Tariff Deadline, Warns of New Duties Up to 40%

Trump Extends Tariff Deadline, Warns of New Duties Up to 40%

07/08/2025
Trump Sets 25% Tariffs on Japan, South Korea, Adds Duties for 12 Nations

25% Tariffs on Japan, South Korea Set, Plus New Duties for 12 Nations, Trump Confirms

07/08/2025
Trump Extends Tariff Deadline for 14 Countries Until August

Tariff Deadline for 14 Countries Extended Until August, Says Trump

07/08/2025
Innovative Filtrex Techno Engineering India Pvt. Ltd. Earns Nomination for Go Global Awards 2025

Innovative Filtrex® Expands Global Presence with Sustainable Engineering and Clean Energy Solutions

07/07/2025
Innovative Filtrex Techno Engineering India Pvt. Ltd. Earns Nomination for Go Global Awards 2025

Innovative Filtrex Techno Engineering India Pvt. Ltd. Earns Nomination for Go Global Awards 2025

07/07/2025
supplychainreport
Saturday, July 19, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Biden and Top Republican Express Confidence in Avoiding Debt Default

by Richie
05/17/2023
in Compliance, Global Trade, International Relations, Risk Management

YOU MAY ALSO LIKE

White House: Preference for U.S. Goods Eases Tariff Inflation

Tariff Concerns Remain in Focus as Traders Eye US Inflation Data

President Joe Biden and House Speaker Kevin McCarthy, a leading Republican, have both conveyed optimism regarding the United States’ ability to avert a potential and severe default on its debt obligations. Despite ongoing negotiations, both leaders emphasized their commitment to addressing the $31.4 trillion debt ceiling, which has been a source of contention for several months. A resolution is crucial before the government faces a potential inability to meet its financial obligations, as warned by the US Treasury, with a critical deadline possibly as early as June 1.

Speaking from the White House, President Biden stated, “We’re going to come together because there’s no alternative,” emphasizing the consensus among congressional leaders that default is not an option. He clarified that the negotiations focus on budgetary outlines rather than questioning the commitment to meeting financial obligations.

During an interview with CNBC, Speaker McCarthy expressed confidence in the recent progress of negotiations, stating that averting a default with a deal by Sunday is “doable.” McCarthy added, “I think at the end of the day, we do not have a debt default,” acknowledging the tight timeline but affirming efforts to reach a conclusion.

For months, Republicans, holding a 222-213 majority in the House, insisted that Democrats agree to spending cuts in exchange for raising the self-imposed debt limit, necessitated by the government’s spending exceeding tax revenues. The debate also involved Republicans’ push for heightened work requirements for individuals seeking support from certain government programs, a point of contention with Democrats.

President Biden acknowledged the possibility of including some work requirements in the final deal, a stance opposed by many Democrats. These statements followed a meeting between Biden, McCarthy, Senate Majority Leader Chuck Schumer, Senate Republican Leader Mitch McConnell, and House Democratic Leader Hakeem Jeffries at the White House.

President Biden heads to the Group of Seven summit in Japan, he assured continued communication with top lawmakers by telephone, aiming to finalize an agreement before his scheduled return to Washington on Sunday. The White House had previously announced Biden’s curtailed trip, canceling visits to Australia and Papua New Guinea amid the ongoing standoff.

Catch the latest supply chain news at The Supply Chain Report. Learn more about international trade at ADAMftd.com with free tools.

#BidenDebtCeiling #DebtCeilingNegotiations #USDebtCrisis #McCarthyDebtDeal #CongressionalBudget #USGovernmentDebt #TreasuryWarning #USDebtResolution #DebtLimitCrisis #BipartisanNegotiations #G7Summit2024 #WorkRequirementsDebate #WhiteHouseUpdates

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.