Biden reiterates to McCarthy his refusal to agree to a rise in the debt ceiling: "It is not negotiable or conditional"

MADRID, 2 Feb. (EUROPA PRESS) -

The president of the United States, Joe Biden, has reiterated this Wednesday his refusal to negotiate with the Republicans an increase in the debt ceiling, alleging that he expects the House of Representatives to approve the measure as it has been done during all US administrations.

"The Constitution of the United States is explicit about this obligation, and the American people expect Congress to comply with it in the same way that all its predecessors have done. It is not negotiable or conditional," the president stressed during a meeting with the president. of the Lower House, Republican Kevin McCarthy.

Biden has argued that it is the obligation of Congress not to allow a default on the debt that the State has, assuring that it would be "economically catastrophic", as reported in a statement by the White House.

In this sense, he has been open to discussing with the Republican Party ways to reduce the deficit and control the national debt while continuing to increase the debt ceiling. Thus, he has recalled that during his first two years at the helm of the administration the deficit would have been reduced by 1,700 million dollars (1,540 million euros), a fact that he has described as "record".

The speaker of the House of Representatives, for his part, has affirmed before Biden that the country cannot continue "squandering" the money it does not have, thus charging the payments to the next generations.

"Our debt is too high. We have waste in our government. The problem is getting worse, not better," McCarthy asserted in statements to the press after his meeting with Biden.

In this sense, he has called on Republicans and Democrats to work together in order to establish "a responsible debt limit" that puts the United States "on the path of a balanced budget."

The United States Congress, which is the one who decides the federal government's budget, has the power to authorize the issuance of debt necessary to cover it in the event of a deficit (when more is spent than what is received).

The norm, which has its origins in a 1917 law, has historically been respected by both the Republican Party and the Democratic Party, regardless of who held the majority of both chambers, without using the increase in the debt ceiling as a political weapon. .

However, since the Clinton Administration, the Republicans have threatened the Democrats on numerous occasions not to approve the increase in the debt ceiling, which would lead the United States to default on its obligations, which in turn -- having considering the size of the US economy--could lead to a global financial crisis.

For this reason, Biden has shown his refusal to give concessions to the Republican Party in exchange for their approval of the increase in the debt ceiling, alleging that this has never been the case and that a financial crisis would only be the responsibility of the Republicans.