Biden decries Republicans in row over US debt
President Biden is attending the G7 summit in Hiroshima where he has told of his frustration at the stalemate over the debt ceiling
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President Biden has said Republicans must move from their “extreme position” on negotiating a raise on the debt ceiling of the United States as the deadline for avoiding a catastrophic default looms.
The US is nearing its legal debt limit of $31.4 trillion and unless Congress approves an increase it will not be allowed to borrow any more by law.
Janet Yellen, the Treasury secretary, has warned that a new limit should be in place by June 1 and that failure to reach an agreement could have disastrous consequences for the world economy.
Republicans, who control the House of Representatives, are calling for significant public spending cuts before voting through new measures, though the White House has so far resisted their demands.
“Much of
