Biden declares 'America will not default,' says he's confident of budget deal with GOP lawmakers
President Joe Biden is declaring he's confident the U.S. will avoid an unprecedented and potentially catastrophic debt default, saying talks with congressional Republicans have been productive WASHINGTON -- An optimistic President Joe Biden declared Wednesday he is confident the U.S. will avoid an unprecedented and potentially catastrophic debt default, saying talks with congressional Republicans have been productive. He left for a G-7 summit in Japan but planned to return by the weekend in hopes of approving a solid agreement. Biden's upbeat remarks came as a select group of negotiators began meeting to try and hammer out the final contours of a budget spending deal to unlock a path for raising the debt limit as soon June 1. That is when the Treasury Department says the U.S. could begin default ing on its obligations and trigger financial chaos. “I’m confident that we’ll get the agreement on the budget and America will not default,” Biden said from the Roosevelt Room of the ...