brudirect.com 27 May, 2023 00:45 am

US Debt Ceiling Talks Continue With New 5 June Deadline

> World Business US Debt Ceiling Talks Continue With New 5 June Deadline GETTY IMAGES May 27th, 2023  |  08:25 AM  | 58 views UNITED STATES AMERICA The US treasury secretary has said the country will run out of money to pay its bills on 5 June if lawmakers fail to raise the debt ceiling."To avoid exacerbating downside risks, the debt ceiling should be immediately raised or suspended by Congress, allowing negotiations over the FY2024 budget to begin in earnest," it added.Republicans have said they will not raise the debt ceiling unless the government reduces its spending in the years ahead.The new deadline allows Republicans and the White House a little more time even as President Joe Biden expressed hope for reaching a deal by Friday night.

" A day earlier, President Joe Biden also said the negotiations were moving forward, though the White House on Friday afternoon said talks could spill into the weekend.The Senate would also have to vote on the bill, which would then go to the White House for signing.

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