Speaking at a semiconductor maker in North Carolina to highlight his own policies, Biden is trying to shape public sentiment as he faces off with House Speaker Kevin McCarthy, R-Calif., about whether the federal government should raise its legal borrowing capacity.
McCarthy sent a letter Tuesday saying that talks should start about possible spending cuts in return for the debt limit increase. Biden has said Republicans need to put forth their own budget plan before negotiations start. Without an agreement, the federal government could default on its financial obligations.
The president tried to ratchet up pressure on Tuesday by saying that the GOP demands on the budget would only empower China, the country’s key geopolitical rival. Being tough on China has been a core part of the identity of former President Donald Trump, who is seeking to return to the White House in 2024, and his Make America Great Again movement. The Democratic president said their objections to his policies would instead strengthen China.
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AMAZON REPORTS BOOST IN QUARTERLY PROFITS.EXCEEDS REVENUE ESTIMATES AS IT INVESTS IN AI
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