US President Joe Biden stood firm Wednesday on the need to increase the nation's borrowing limit, saying he would not negotiate with Republicans over his demand to raise the debt ceiling in order to avert a potential default.
"I'm happy to meet with (House Speaker Kevin) McCarthy but not on whether or not the debt limit gets extended. That's not negotiable," Biden told reporters.
The government is expecting to hit its borrowing limit within weeks, but Republican leadership is keen to combine a lifting of the debt ceiling with drastic spending cuts, a move opposed by Biden and his fellow Democrats.
