Joe Biden said he was “confident” of reaching a deal with Congress to avoid an unprecedented default on US debt, as he left the door open to meeting a central Republican demand and adding new work requirements to anti-poverty programmes.
The president spoke from the White House on Wednesday as he prepared to travel to Japan for the G7 leaders summit, with the fiscal stand-off in Washington emerging as a huge risk to the global economy and financial system.
Biden said a meeting on Tuesday with congressional leaders including Republican speaker Kevin McCarthy had been “civil and respectful”, and all parties understood “the consequences of the failure to pay our bills”.
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