WASHINGTON — President Joe Biden said a deal to raise the government’s debt ceiling seemed “very close” late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5.
The later date, laid out in a letter from Treasury Secretary Janet Yellen, set the risk of a devastating default four days later than an earlier estimate. It came as Americans and the world uneasily watched the negotiating brinkmanship that could throw the U.S. economy into chaos and sap world confidence in the nation’s leadership.
Yet Biden was upbeat as he left for the Memorial Day weekend at Camp David, declaring, “It’s very close, and I’m optimistic.”
With Republicans at the Capitol talking with Biden’s team at the White House, the president said: “There’s a negotiation going on. I’m hopeful we’ll know by tonight whether we’re going to be able to have a deal.”
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Edited by Jesus Chan
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