No Debt Breakthrough; Biden Says Covid Fund Clawbacks ‘On The Table’
Though a White House meeting Tuesday night with House Speaker Kevin McCarthy and other congressional leaders yielded no deal, President Joe Biden said he was confident the U.S. would not default on its debt.
AP:
Biden: Debt Meeting ‘Productive,’ Default ‘Not An Option’
President Joe Biden and congressional leaders confronted each other on the debt limit impasse Tuesday, ending their meeting with no breakthrough but agreeing to meet again this week to try to avert the looming risk of an unprecedented government default. Speaking at the White House, Biden described the talks as “productive” even though House Speaker Kevin McCarthy said after the high-stakes Oval Office meeting that he “didn’t see any new movement” toward resolving the stalemate. (Miller, Min Kin, Boak and Mascaro, 5/10)
The New York Times:
How Might The Government Avoid Default? Biden Offers Clues
Nearly two hours after the end of what appeared to be a fruitless meeting between President Biden and Republican leaders this week over raising the federal debt limit, Mr. Biden finally offered a hint as to how the government might avoid a catastrophic default. Actually, it was two hints, contained in an impromptu news conference in the Roosevelt Room. (Tankersley, 5/10)
The Hill:
Biden Says Rescinding Unspent COVID-19 Relief Funds ‘On The Table’
President Biden on Tuesday said rescinding unspent COVID-19 relief funds is “on the table” when it comes to an area where he and lawmakers can agree to make some spending cuts — but he was vague on whether that could also be part of debt ceiling talks. When asked if he would consider clawing back the unspent funds “even if it’s independent on these debt limit discussions,” Biden appeared to leave that option open. (Gangitano, 5/9)
USA Today:
How The Debt Ceiling And Default Fight Affect You: Why It Matters
The Treasury department makes millions of payments per day, all of which would be in jeopardy if the government runs out of money. “The most direct effect is that some people who are owed money from the federal government may not get paid,” Shai Akabas, director of economic policy at the Bipartisan Policy Center, told USA TODAY. Those payments include Social Security, Medicare, Medicaid, federal salaries, food stamps and more. (Tran, 5/10)
KFF Health News:
Republicans Vow Not To Cut Veterans’ Benefits. But The Legislation Suggests Otherwise
House Republicans have set themselves a tough, if not impossible, task in attempting to use a standoff over the nation’s debt limit to cut federal spending to what it was in 2022. Retrenching to those budget levels would require cutting 8% or 9% from the discretionary program side of the ledger, which excludes entitlement programs such as Social Security and Medicare. Spending on those programs is required by law. Other spending is dictated by congressional appropriations annually. The latter is up for debate here. (McAuliff, 5/9)
In news about PEPFAR —
Roll Call:
Lawmakers Push For PEPFAR To Stay Steady During Time Of Change
Now entering its 21st year, the U.S. President's Emergency Plan for AIDS Relief, the largest commitment by a country to eliminate a disease, is considered a government success story, credited with major advancements in combating HIV/AIDS globally. But this year, eight provisions of the law also known as PEPFAR are up for reauthorization, making it a key health measure up for congressional consideration. (Raman, 5/9)
