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Free AccessBiden Calls For Change To "Poisonous Atmosphere" In Washington
US President Joe Biden, speaking ahead of remarks at the White House on student debt relief, has commented on the events in the House of Representatives which led to a last minute deal to avert a government shutdown on Saturday and yesterday's ouster of former House Speaker Kevin McCarthy (R-CA).
- Biden: "The House will now reorganise and select a new Speaker. I know it's gonna take some time but I remind everyone that we have a lot of work to do and the American people expect us to get it done."
- "We reached an agreement over the weekend, funds for the government, only another 40 days. We cannot and should not be faced be faced with another 11th hour decision and brinksmanship and threats to shutdown the government."
- "More than anything we need to change the poisonous atmosphere in Washington. We have strong disagreements but we need to stop seeing each other as enemies."
- Biden's remarks are the first significant comments from the White House on the recent events in the House. Democrat strategists likely consider the dysfunctional state of the House GOP a political benefit ahead of the 2024 general election but an extended period of paralysis in the chamber will significantly impact Congress' ability to pass key legislation like new Ukraine security assistance and FY24 spending bills to avoid a government shutdown on November 17.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.