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on tuesday, representatives of us presidentjoe biden and congressional republicans met again on capitol hill. the two sides have untiljune 1st to come to an agreement on raising the govenrment s borrowing limit, or risk the us not being able to pay its bills. some analysts have warned a default could lead to huge job losses in the us and even a global recession. stocks on wall street finished sharply lower on tuesday. despite this, optimism among leaders remains. negotiations are very hard, very difficult, both sides have to understand they won t get everything they want. we are trying to get to a budget that is reasonable and bipartisan. that democrats and republicans in the house and senate will be able to vote on and agree on. this is the process, that s why we are moving in this way, to make sure it s bipartisan, but also reasonable. that s what you all can look forward to. for the latest on this story, i spoke to cbs news congressional correspondent, nikole killion ....
and congressional republicans met again on capitol hill. the two sides have untiljune 1st, just over a weeks time, to come to an agreement on raising the govenrment s borrowing limit, or risk the us not being able to pay its bills. some analysts have warned a default could lead to huge job losses here in the us, a plunge on the stock markets, and even a global recession. in fact, stocks on wall street finished sharply lower at the close of trading on tuesday. despite this, optimism among leaders remains. white house press secretary karinejean pierre says a deal both sides can be pleased with is possible. negotiations are very hard, very difficult, both sides have to understand they won t get everything they want. we are trying to get a budget that is reasonable and bipartisan. that democrats and republicans in the house and senate will be able to vote on and agree on. this is the process, that s why we are moving in this way, to make sure it is bipartisan, but also rea ....
or risk the us not being able to pay its bills. some analysts have warned a default could lead to huge job losses in the us, and even a global recession. stocks on wall street finished sharply lower on tuesday. despite this, optimism among leaders remains. negotiations are very hard, very difficult, both sides have to understand they won t get everything they want. we are trying to get to a budget that is reasonable and bipartisan. that democrats and republicans in the house and senate will be able to vote on and agree on. this is the process, that s why we are moving in this way, to make sure it s bipartisan, but also reasonable. that s what you all can look forward to. for the latest on this story, i spoke to cbs news congressional correspondent nikole killion. has there been any movement in negotiations? not much movement at all. in fact, it seems like talks have once again hit an impasse, although both sides are still at the negotiating table to a certain extent. bu ....
To be quite challenging. we have also heard these terms of optimism, talks about the negotiations being productive. both sides showing willingness to agree that a default is off the table, so why can t they get past these sticking points? the negotiators continue to applaud each other and commend each other for being very productive, and they feel like they re getting a better sense of each other s positions, but as i mentioned, this really comes to some fundamental differences over spending. republicans passed a debt limit billjust last month where they proposed increasing the debt limit by $1.5 trillion, which would lift the debt ceiling in the united states through march of next year, and it would also reduce spending by $4.8 trillion. that s the amount of cuts republicans are proposing ....
Democrats and republicans foryears, decades. they are trying to resolve all of this in a matter of days, and it s proving to be quite challenging. we have also heard these terms of optimism, talks about the negotiations being productive. both sides showing willingness to agree that a default is off the table, so why can t they get past these sticking points? the negotiators continue to applaud each other and commend each other for being very productive, and they feel like they re getting a better sense of each other s positions, but as i mentioned, this really comes to some fundamental differences over spending. republicans passed a debt limit billjust last month where they proposed increasing the debt limit by $1.5 trillion, which would lift the debt ceiling in the united states ....