Biden Debt Limit Statement

US President Biden, at the press conference he offered yesterday at the White House, noted that they had a productive meeting with the participation of 4 leaders in Congress, and stated that he thought they all came to the meeting with “good intentions.”

Emphasizing that he is confident that they will reach an agreement without the US defaulting, Biden said that all leaders are aware of the consequences if the country cannot pay its debts, and that this will be a disaster for the economy and the American people.

Noting that they have no choice but to unite on the debt limit and must do what is right for the country, Biden stressed that the ongoing negotiations are about the budget outline, not whether or not debts are paid.

Stating that they agreed with US House Speaker Kevin McCarthy to assign senior staff to hold meetings yesterday, Biden said the teams met yesterday and will meet again today.

Biden said he will stay in constant contact with his team while at the G7 Summit, noting that he will be in close contact with McCarthy and other leaders.

Noting that they will continue their talks with congressional leaders until a deal is reached, Biden said he will hold a news conference on the debt limit on Sunday.

McCarthy said in a statement that a debt limit deal could be reached as early as Sunday.

INTERVIEW WITH THE LEADER OF CHINA

Biden said that the role of the United States in the world is vital, especially at this time, on issues such as supporting Ukraine, confronting the climate crisis and strengthening the global economy.

Noting that he will hold separate meetings with the Quad leaders on the sidelines of the G7 Leaders Summit, Biden answered “No” to the question of whether the cancellation of the Quad Summit and the inability to meet with the leaders of the Islands of the Pacific, due to the cancellation of its visits to Australia and Papua New Guinea, is a win for China.

When asked about his meeting with Chinese President Xi Jinping, Biden said whether he would meet the Chinese leader soon or not.

US National Security Adviser Jake Sullivan met with China’s top diplomat Wang Yi, Director of the Chinese Communist Party (CCP) Office of the Central Commission on Foreign Relations, in Vienna, Austria, on May 10 and 11.

The meeting was the highest-level diplomatic contact between Washington and Beijing since the crisis sparked by a Chinese high-altitude balloon entering US airspace in February and Foreign Minister Antony Blinken canceling a planned visit to China.

Biden, who recently intensified his talks with Asia-Pacific leaders, would become “the first sitting US president to visit Papua New Guinea.”

After the press conference, Biden left the White House to attend the G7 Summit in Japan. (AA)