President Biden Refuses to Negotiate Over Federal Government’s Debt Obligations

President Joe Biden is refusing to negotiate over the federal government’s obligation to pay its debts, a White House aide said on Friday. This comes as Democratic Rep. Abigail Spanberger of Virginia is calling for the House’s chief administrative officer to withhold pay for members of Congress until the looming crisis over the debt ceiling is resolved.

Spanberger wrote in a letter to Catherine Szpindor, who oversees day-to-day House operations as chief administrative officer, that if the American people and the American economy are suffering as a result of congressional inaction, then members of Congress should not be rewarded with their pay.

The debt ceiling is the legal limit on the amount of money the federal government can borrow. If the debt ceiling is not raised, the federal government will default on its debts next month. House GOP leaders are pushing a plan to raise the debt limit through March 2024 while cutting roughly $4.5 trillion in spending, but the plan is dead on arrival in the Democratic-led Senate.

Speculation is growing that a potential deal could be reached involving spending cuts, reclaimed COVID funds, and energy-permitting reforms. However, President Biden is adamant that he will not negotiate over the federal budget, and is instead focused on resolving the debt ceiling crisis.

The debt ceiling crisis is a pressing issue, and it remains to be seen if Congress will be able to come to an agreement in time to avoid defaulting on the federal government’s debts.