White House Hints At Offramp For Debt Limit Crisis

White House Press Secretary Karine Jean-Pierre has told reporters that President Biden "will not negotiate" on the debt ceiling in a May 9 meeting with Congressional leaders to discuss "avoiding a default," but suggested Biden may be more flexible to negotiating spending cuts via alternate channels.

• Jean Pierre: "The updated [x-date] projection [from Treasury Secretary Janet Yellen] should be a wake up call to Congress, it is time for the Speaker and MAGA Republicans to stop the brinksmanship."
• Jean-Pierre: "Threatening to default and crash the economy unless the President agrees with Speaker McCarthy's entire agenda isn't just dangerous, its unreasonable."
• Jean-Pierre: "Given the limited time Congress now has, it is now clear the only practical path to avoid default is for Congress to suspend the debt limit without conditions."
• Jean-Pierre however indicated that President Biden may be prepared to open negotiations on spending via budgetary channels: "During his meeting with the leaders the President will discuss initiating a separate process to address the budget and appropriations because we have long said we welcome a conversation about spending priorities."