(LibertySociety.com) – During his recent trip to Japan, President Joe Biden took questions at a news conference and was asked if he would bear some responsibility if an agreement on the debt ceiling could not be reached, to which he responded: “On the merits, based on what I’ve offered, I would be blameless.” He further elaborated, discussing his thoughts on how it is possible that some MAGA Republicans are vying for him to fail, seeking to jeopardize his chances of a second term.
Prior to questioning from the news media, President Biden stated that the Republicans need to make concessions because a significant amount of what they proposed was “unacceptable,” referring to the bill that was passed in the House of Representatives back on April 26th, 2023. The 46th President also mentioned the possibility of using the 14th Amendment of the United States Constitution to increase the debt ceiling. He predicted that any challenges in court would be too lengthy to maintain validity if he decides to go that route.
House Speaker Kevin McCarthy met with President Biden on May 22nd, 2023, holding a press briefing shortly after the meeting concluded, where he expressed the belief that they were making headway, although they still hadn’t reached an agreement. President Biden tweeted a similar message, signaling that both sides realize that there must be a compromise between parties if they want to avoid a default. Republican North Carolina Representative Patrick McHenry, who chairs the House Financial Services Committee, was also present for the meeting. He agreed that the meeting was positive, while also noting that there were candid discussions between Speaker McCarthy and President Biden that shed light on what was needed to progress the deal further.
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