(MENAFN- Trend News Agency)
US President Joe Biden and Republican House Speaker Kevin
McCarthy held initial talks on Wednesday about raising U.S.
government borrowing limits in a first test of how the two will
work together, with both sides agreeing to talk more, trend reports citing reuters .
The White House said after the meeting that Biden told McCarthy
he was eager to work with Republicans 'in good faith.' McCarthy
said the two men could find common ground. But, as expected, there
was no sign of an immediate breakthrough.
'The president and I had a good first meeting,' McCarthy told
reporters after the more-than-hour-long meeting. He said the two
men shared their perspectives with each other. 'I think at the end
of the day, we can find common ground,' he said.
The Democratic president and Republicans, who won control of the
U.S. House of Representatives in November's elections, are locked
in a standoff over raising the federal government's $31.4 trillion
U.S. debt ceiling. Failing to do so would put the world's largest
economy on a path to default.
'President Biden made clear that, as every other leader in both
parties in Congress has affirmed, it is their shared duty not to
allow an unprecedented and economically catastrophic default,' the
White House said in a statement. 'It is not negotiable or
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