Stay updated with breaking news from Wasjune 1st. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
we start tonight in washington, where talks to avoid a us debt default have been described as productive, but there s still no deal. presidentjoe biden and speaker of the house kevin mccarthy led negotiations on raising the debt ceiling to ensure the us can continue to pay its bills. biden and republican congressional leaders now have just ten days to avoid a default. president biden said: kevin mccarthy spoke outside the white house, and the bbc s nomia iqbal was watching. he said the meeting was productive. he said the tone was good. he appeared in an upbeat mood and he said there was still a way to go before they make a compromise. he did say that he believed the president does want to make a deal. bear in mind, we are fast approaching the deadline, and if a deal is passed, it would take more than a week, or about a week, to get through congress. the speaker appeared confident that would happen. i never wanted to be here. i do not like the idea that you govern by cha ....
hello, i m sumi somaskanda. we start in washington tonight, where negotiators have been working to avoid a us debt default. negotiations have been described as productive but there s still no deal. earlier, presidentjoe biden and speaker of the house kevin mccarthy led talks on raising the debt ceiling to ensure the us can continue to pay its bills. biden and republican congressional leaders now have just ten days to avoid a default. president biden said: wwe reiterated once again that default is off the table. and the only way to move forward is in good faith toward a bipartisan agreement. kevin mccarthy spoke outside the white house and the bbc s nomia iqbal was watching. he said the meeting was productive. he said the tone was good. he appeared in an upbeat mood and he said there was still a way to go before they make a compromise. he did say that he believed the president does want to make a deal. bear in mind, we are fast approaching the deadline, and if a d ....
The deadline wasjune 1st. we don t want to govern that way. unfortunately denying our ability to meet put us in this situation. i believe we can still get there. i believe we can get it done. any deal that is reached has to be bipartisan, and i asked the speaker what he thought about members of the house republicans to the far right who have said they won t accept anything less than a house backed bill, what was he doing to assure them of that? he said, look, we are going to have to compromise, that s the only way to get the deal forward. both parties don t want to concede on any of the key issues that the constituents care about, that voters care about and that party members care about. but he said, when asked, should americans prepare for default, he was quite clear, he said no. ....
This was long before secretary yellen said the deadline wasjune 1st. we don t want to govern that way. unfortunately, denying our ability to meet put us in this situation. i believe we can still get there. i believe we can get it done. any deal that is reached has to be bipartisan, and i asked the speaker what he thought about members of the house republicans to the far right who have said they won t accept anything less than a house backed bill, what was he doing to assure them of that? he said, look, we are going to have to compromise, that s the only way to get the deal forward. both parties don t want to concede on any of the key issues that the constituents care about, that voters care about and that party members care about. but he said, when asked, should americans prepare for default, he was quite clear, he said no. ....
As an opportunity to extract demands like cuts to affordable housing or other social security spending. but us presidentjoe biden says, no way, you need to pass this legislation with no strings attached. so off to the white house the two warring political parties go to try and work it out, but the clock is ticking. the us government could run out of cash as early asjune 1st. so what are the possible consequences? for starters, people who work for government agencies won t get paid and those getting social security benefits won t get their money either. financial markets would fall and thousands ofjobs could be lost in the immediate aftermath. but the most dire consequence would be investors losing confidence in the country s ability to pay the interest on its debt, which comes in the form of treasury bonds, which are seen as one of the safest places to put your money, and that would quickly shatter the world s ....