{"id":159975,"date":"2023-05-17T20:44:21","date_gmt":"2023-05-18T03:44:21","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=159975"},"modified":"2023-05-17T20:44:21","modified_gmt":"2023-05-18T03:44:21","slug":"president-biden-on-preventing-a-first-ever-government-default","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=159975","title":{"rendered":"President Biden on Preventing a First-Ever Government Default"},"content":{"rendered":"<p>Washington, DC&#8230;Hey, everybody.  Well, I\u2019m about to take off in a few minutes, if you hear the helicopter out there, to Japan \u2014 not in the helicopter, but to Andrews.  Anyway \u2014 and to meet with the leaders of G7.<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/dKn76fhRI38\" title=\"President Biden Delivers Remarks on Preventing a First-Ever Government Default\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p>America\u2019s role in the world is vital, especially right now as we work together with other countries to support Ukraine and take on the challenges that demand international cooperation, from tackling the climate crisis to strengthening the \u2014 the global economy.<\/p>\n<p>And before I leave, I wanted to say a word about the status of negotiations with the Congressional leaders.  We had a productive meeting yesterday and \u2014 with all four leaders of the Congress.<\/p>\n<p>It was civil and respectful.  And everyone came to the meeting, I think, in good faith.<\/p>\n<p>I\u2019m confident that we\u2019ll get the agreement on the budget, that America will not default.  And every leader in the room understands the consequences if we fail to pay our bills.  And it would be catastrophic for the \u2014 for the American economy and the American people if we didn\u2019t pay our bills.<\/p>\n<p>And I\u2019m confident everyone in the room agreed, with the Speaker \u2014 from the Speaker to the Majority Leader to the \u2014 Majority Leader in the House and the Senate \u2014 excuse me \u2014 the Majority Leader in the Senate, the Minority Leader in the Senate, as well as the Leader \u2014 the Democratic Leader in the House, that we\u2019re going to come together, because there\u2019s no alternative to do the right thing for the country.  We have to move on.<\/p>\n<p>And to be clear, this negotiation is about the outlines of what the budget will look like, not about whether or not we\u2019re going to, in fact, pay our debts.<\/p>\n<p>The leaders have all agreed we will not default.  Every leader has said that. <\/p>\n<p>And I\u2019m proud of the progress my administration has made.  We\u2019ve reduced the deficit in the first two years by $1.7 trillion in the first two years.  And I\u2019ve proposed a budget that will reduce another $3 trillion over the next decade.  That includes more revenue by asking the wealthy and large corporations to begin to pay \u2014 pay their fair share and cutting subsidies that exist in the law now to Big Oil and Big Pharma.<\/p>\n<p>Yesterday, we all agreed that both the Speaker McCarthy and I would designate senior members that we would negotiate to give our authority to make agreements and detail on what we wanted.   So we narrowed the group.  We narrowed the group to meet and hammer out our differences.<\/p>\n<p>And we\u2019ve done that.  In fact, they\u2019ve met last night, and they\u2019re going to be meeting again today.  And \u2014 and I\u2019ll be in constant contact with my team while I\u2019m at the G7.  And I\u2019ll be in close touch with Speaker McCarthy and other leaders as well. <\/p>\n<p>Now, what I have done in anticipation that we won\u2019t get it all done until I get back is I\u2019ve cut my s- \u2014 trip short in order to be \u2014 for the final negotiations and sign the deal with \u2014 with the Majority Leader.<\/p>\n<p>I made clear that \u2014 and I\u2019ll say it again: America is not a deadbeat nation.  We pay our bills. <\/p>\n<p>The nation has never defaulted on its debt, and it never will.<\/p>\n<p>And we\u2019re going to continue these discussions with Congressional leaders in the coming days until we reach an agreement.  And I\u2019ll have more to say about that on Sunday, when I\u2019m going to have a press conference on this issue.<\/p>\n<p>As it stands now, the intention is to go to the G7, be back here on Sunday, hold a press conference. <\/p>\n<p>And in the meantime, I\u2019m going \u2014 I\u2019ve spoken to the Australian leader Albanese, and I\u2019ve spoken to \u2014 I\u2019m going to be seeing him at the G7.  He\u2019ll be there as well, along with the Indian Prime Minister and along with the Japanese as well.  So the Quad members will be there.  We\u2019ll get a chance to talk separately at the meeting, but it\u2019s unlikely I\u2019m going to be going on to Australia. <\/p>\n<p>So, thank you very much.<\/p>\n<p>Q    Mr. President, what about work requirements specifically are you still considering?  It sounds like it\u2019s still on the table and you haven\u2019t ruled it out.  Which would you be willing to accept? <\/p>\n<p>THE PRESIDENT:  Well, I\u2019m not \u2014 they\u2019re \u2014 I\u2019m not going to accept any work requirements that\u2019s going to impact on medical health needs of people.  I\u2019m not going to accept any work requirements that go much beyond what is already \u2014 what I \u2014 I voted years ago for the work requirements that exist.  But it\u2019s possible there could be a few others, but not anything of any consequence.<\/p>\n<p>Thank you.<\/p>\n<p>Q    What message does this send \u2014<\/p>\n<p>THE PRESIDENT:  That we\u2019re \u2014<\/p>\n<p>Q    \u2014 to PNG and Australia?  I know that it was important to you to focus on Asia on this trip, but this is having to be put aside.  Does this \u2014 is this almost a win for China?<\/p>\n<p>THE PRESIDENT:  No.  No, because we\u2019re still meeting.  We still have four good allies. <\/p>\n<p>Q    Mr. President, do you intend to speak with President Xi soon, sir? <\/p>\n<p>THE PRESIDENT:  That\u2019s my \u2014 whether it\u2019s soon or not, but we will be meeting.<\/p>\n<p>11:17 A.M. EDT<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington, DC&#8230;Hey, everybody. Well, I\u2019m about to take off in a few minutes, if you hear the helicopter out there, to Japan \u2014 not in the helicopter, but to Andrews. Anyway \u2014 and to meet with the leaders of G7. America\u2019s role in the world is vital, especially right now as we work together with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":159976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,5,1],"tags":[],"class_list":["post-159975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2023\/05\/Fullscreen-capture-5172023-84253-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/159975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=159975"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/159975\/revisions"}],"predecessor-version":[{"id":159977,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/159975\/revisions\/159977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/159976"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=159975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=159975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=159975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}