Treasury Official Insists Biden ‘Didn’t Wait’ To Negotiate As Debt Default Nears | Eastern North Carolina Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Daniel Chaitin.

    A leading Treasury Department official refuses to admit President Joe Biden waited until the threat of a historic default became imminent to negotiate the debt ceiling.

    CNN anchor Dan Bash pressed Treasury Deputy Secretary Wally Adeyemo about the issue on Sunday, weeks ahead of what could be an unprecedented government default.

    "If the threat from default is so dire, why did the president wait until this month to have real negotiations about how to and where to have spending cuts in order to avert default?" Bash asked.

    Adeyemo dismissed the premise of the question.

    He argued that Biden "didn't wait" because he proposed a budget in March to reduce the debt by nearly $3 trillion over the next decade. Republicans passed their own plan in the following month, Adeyemo noted, and Biden then invited congressional leaders to discuss "fiscal policy."

    Congressional leaders met with Biden at the White House last week but failed to come up with an agreement. A planned second meeting on Friday was postponed, but Adeyemo contended the conversations were "constructive" and stated that Biden has "made clear" he does not think invoking the 14th Amendment to get around Congress would "solve our problems now."

    Biden and Democrats in Congress are advocating for a "clean" bill to raise the debt ceiling above the current limit of roughly $31.4 trillion, a stance which set them up for a clash with Republicans who want to discuss concessions on spending cuts after the GOP-led House passed their proposal in April.

    "It's clear that the only responsible way to raise the debt ceiling is to limit reckless spending and get inflation under control," House Speaker Kevin McCarthy (R-CA) tweeted on Friday.

    As talks continue, "There is no reason we shouldn't raise the debt limit and prevent default in this country, a default that could lead to a massive recession that would cost us millions of jobs," Adeyemo said.

    Time is running short as the Congressional Budget Office warned there is "significant risk" that the government would no longer be able to pay all of its debts at some point during the first two weeks of June if the debt limit remains unchanged despite "extraordinary measures" being taken by the Treasury Department.

    "The president's view is that we should be able to raise the debt limit and also be able to get a deal with regard to fiscal policy," Adeyemo said on Sunday, sticking with the view that avoiding a default should be handled as a stand-alone issue.

poll#145

After one full year of the Biden /Harris Administration: Does Joe Biden have the intellectual capacity, and, or the energy to lead the United States of America through the mess that he predominately created ... in just one year?

  Yes

  No

  Unsure

1,220 total vote(s)     What's your Opinion?

poll#173

In the face of a known scandal finally being revealed by the corrupt Legacy Media regarding Joe Biden, his Mishandling of Classified Documents and his long history of Influence Peddling to our Foreign Adversaries for Personal and Familial Profit: What do you believe the outcome will be in America's Leftist practice of a Two Tiered Justice System?

  Nothing will happen since the Democratic Socialist Left is corrupt to the core, and their non patriot ambitions are only the control of power.

  Justice WILL be served, but NOT without a tremendous fight by those willing to save the Republic.

  Why can't everyone else understand that the Left is special because we care so much for our own, especially the well being of the president and his family, especially Hunter.

  What difference does it make; I am a product of a failed public education system.

469 total vote(s)     What's your Opinion?

poll#174

Among the many other lackluster performance standards by the Biden Administration - the most recent, allowing the Chinese Spy Balloon unfettered access to the skies above this Sovereign Republic - Joe Biden's foreign policy is considered by most true experts to be mediocre to abysmal at best. If one were to give a fair assessment of the quality of this apex duty of this Executive Branch: What would be your opinion of the Biden Administration's Foreign Policy initiatives and, or obvious faux pas?

  President Biden is a Foreign Policy expert of consummate skill just like his brother, Jim, and his son, Hunter.

  America's First Idiot President is corruptly committed to making the World far less safe, while surrendering OUR United States of America's sovereignty whenever, wherever possible.

  Mr. Biden is MY President because I pay close attention to only what rewards me, thus demanding as little sacrifice as is my nature to offer, or shrug.

239 total vote(s)     What's your Opinion?