Biden, McCarthy divided on raising US debt ceiling

In order to keep paying the nation's bills and stave off an economic meltdown, U.S. President Joe Biden and his Republican rivals are trying to figure out how to end the stalemate over raising the nation's debt ceiling.

While Biden described their most recent talks as “productive,” House Speaker Kevin McCarthy said he “didn’t see any new movement” towards resolving the issue.

Jackson Proskow explains how the two leaders are at a stalemate, and the potential worldwide repercussions of the U.S. government defaulting on its debt.

#GlobalNews #US #debt

[billbradley]

Send $billions more to Ukr or leave $85 billion worth of military equipment for the enemy somewhere and see if that helps.

[ph]

Reading comments on many videos, I wonder how many people know that the debt ceiling is to pay debt already incurred and not to finance future budgets. What is happening is like your family owing 100$ to Bob and your wife says: "We are not paying Bob until we cut the cost of groceries in half even though we do have the means to reimburse Bob".

[bruceperkins]

No! no more using the credit card. cut the damn spending! no deals!

[bpwk]

It is like a black hole. Endless money printing. Crazy decision😢

[asleytamkei]

Savings, , yes, , yes reduce defense spending, , defence spending is that sacrosanct?

[asleytamkei]

Who has the guts to reduce the defence spending debacle and" debt" contagion!

[Michiganian]

I’m still don’t feel comfortable with McCarthy being speaker.

[devinfraser]

Sinaloa Joe is in for a bad day today .