United States President Joe Biden was “irked” during an interaction with reporters on the sidelines of the G7 summit while responding to a question on the US debt limit crisis. In a video shared by a Twitter user, Biden who was along with the Australian Prime Minister Athony Albanese was responding to a question when another reporter interrupted.
“Shush up, okay? Thank you,” said the US President followed by a chuckle before he went on to make a case for himself that he has handled these talks before as well.
Biden’s reaction came after a bilateral meeting with the Australian Prime Minister on the sidelines of the Hiroshima G7 Summit in Japan.
When asked about the debt talks in the US, which appear to be in a deadlock as the Republican lawmakers and the White House battle over spending cuts, Biden rejected the impasse. “This (talks) goes in stages...I have been in these negotiations before,” said the US President when another reporter interrupted him.
“Shush up, ok?” Biden responded and then continued his response.
What Is The US Debt Ceiling Crisis?
Debt ceiling is the amount of money that the US Government can borrow to pay for its services which includes social security, medicare and the military.
Through taxes and other streams the government spends on the above services but mostly ends up spending more than what it takes in. To bridge the gap, the US treasury issues security like the US government bonds, that it will eventually pay back with interest.
But once the US government hits its debt limit, further securities can't be issued by the treasury, which pushes the federal government towards debt.
The Congress is in charge of setting debt limit, which it has changed 78 times since 1960 and is currently at $31.4 trillion.
Why Are Republicans And Democrats At An Impasse Over The Crisis?
On April 26, Republicans had passed a bill in the House seeking a raise in the debt ceiling by $1.5 trillion but mandated $4.8tn in spending cuts over a decade.
But the Democrats refused to negotiate spending cuts over the ceiling.