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June 15, 2011
Biden optimistic about debt limit deal by end of June
Vice President Joseph Biden is surrounded by members of the press as he leaves after a meeting June 14, 2011 on Capitol Hill in Washington, DC.
Vice President Joe Biden expressed optimism on Tuesday that the team of bipartisan lawmakers currently attempting to work out a deal on approving a raise to the debt limit could achieve their mission by the end of June.
"We pray that, as my grandfather said, by the grace of God, the goodwill of the neighbors and the creek not rising, I think we're going to be in a position hopefully that by the end of the month ... we have something to take to the leaders," Biden said.
Biden declined to discuss the details surrounding the negotiations, however, noting that, "if I do, every lawyer from K Street will be down here."
"The only reason this is still working is because I haven't told you any of those things," he told reporters.
The U.S. government hit its $14.3 trillion debt limit on May 16, but the Treasury Department implemented what it called "extraordinary" measures to keep the government from defaulting on its loans. The Obama administration and several economists have warned, however, that Congress must raise the debt limit by Aug. 2 to avoid economic catastrophe. Republicans, meanwhile, have argued that raising the debt limit without also making significant cuts to the federal budget would be irresponsible.
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Biden optimistic about debt limit deal by end of June
Vice President Joseph Biden is surrounded by members of the press as he leaves after a meeting June 14, 2011 on Capitol Hill in Washington, DC.
Vice President Joe Biden expressed optimism on Tuesday that the team of bipartisan lawmakers currently attempting to work out a deal on approving a raise to the debt limit could achieve their mission by the end of June.
"We pray that, as my grandfather said, by the grace of God, the goodwill of the neighbors and the creek not rising, I think we're going to be in a position hopefully that by the end of the month ... we have something to take to the leaders," Biden said.
Biden declined to discuss the details surrounding the negotiations, however, noting that, "if I do, every lawyer from K Street will be down here."
"The only reason this is still working is because I haven't told you any of those things," he told reporters.
The U.S. government hit its $14.3 trillion debt limit on May 16, but the Treasury Department implemented what it called "extraordinary" measures to keep the government from defaulting on its loans. The Obama administration and several economists have warned, however, that Congress must raise the debt limit by Aug. 2 to avoid economic catastrophe. Republicans, meanwhile, have argued that raising the debt limit without also making significant cuts to the federal budget would be irresponsible.
Read more: [You must be registered and logged in to see this link.]
