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July 1, 2022

US budget talks end with no deal

Talks at the White House to try to break the deadlock over the US national debt have broken up without agreement, BBC News said. President Barack Obama and congressional leaders have agreed to resume the talks, which ended after 75 minutes, on Monday. Obama is struggling to marshal support for a budget package that would cut the national debt by USD 4 trillion. The Republican Speaker of the House of Representatives, John Boehner, said on Saturday that he favoured a less ambitious target for debt reduction of USD 2 trillion. Republicans baulk at tax increases in the Obama proposals.

And his Democrat allies are no more enthusiastic about proposals to cut social welfare and Medicaid.

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