White House: "Real differences" between parties in budget talks
The White House has acknowledged “real differences” with Republicans in the budget and debt ceiling talks and warned that negotiations will be “difficult,” according to a White House official.
Why it matters: While Team Biden wants to signal that a bipartisan compromise remains possible, they are preparing for a difficult road ahead. They also don’t appear to be racing to restart the talks, even as time is running out to find an agreement.
Driving the news: Earlier Friday, Rep. Garret Graves (R-La.) walked out of negotiations, called the White House “unreasonable,” and declared that the talks were on a “pause.”
- Team Biden is also trying to pressure House Speaker Kevin McCarthy (R-Calif.) to accept a deal that might be unacceptable to large swaths of his conference.
- “There are real differences between the parties on budget issues and talks will be difficult,” a White House official said in a statement.
- "The President’s team is working hard towards a reasonable bipartisan solution that can pass the House and the Senate.”
The big picture: If a deal is not reached soon, the U.S. could run out of money on June 1.
- Treasury Secretary Janet Yellen has repeatedly warned of the deadline, telling the country’s biggest bankers yesterday that outside forecasters have validated it.
The other side: Senate Minority Leader Mitch McConnell (R-Ky.) reacted to the apparent suspension of the talks by blaming Biden for not engaging with McCarthy for several months.
- "It is past time for the White House to get serious. Time is of the essence,” he tweeted.