After dodging reporter's questions about the debt ceiling, President Joe Biden finally broke his silence after ignoring the problem for nearly 100 days.
His response? That if the U.S. defaults on debt, it is not his fault.
In fact, he blamed Republicans, calling the party's latest offers on lifting the government's debt ceiling "unacceptable."
"I've done my part," Biden said, "it's time for the other side to move their team positions because much of what they were proposed is simply, quite frankly, unacceptable."
"And so, let me be clear. I'm not going to agree to a deal, for example, that $30 billion tax break for the oil industry, which made $200 billion last year. They [Republicans] don't need an incentive of another $30 billion," the president continued.
Fox News White House correspondent Peter Doocy asked if the president is to blame for the ongoing issue.
"On the merits, based on what I've offered, I would be blameless," Biden declared, accusing pro-Trump House Republicans of being out to destroy the economy under his leadership and ruin his chances of being re-elected.
"One of the things some [people] are contemplating," Biden continued. "Well, I gotta be careful here. I think there are some MAGA Republicans in the House who know the damage that it would do to the economy, and because I am president, and presidents are responsible for everything, Biden would take the blame. And that's the one way to ensure Biden's not re-elected."
The clock is ticking. With less than two weeks away from the U.S. defaulting to its debt on June 1— which would cause chaos in financial markets and spike interest rates— Biden agreed to talk with House Speaker Kevin McCarthy (R-Calif) on negotiations.
Over the weekend, McCarthy told reporters that the White House had moved backward as both sides have made no progress.
In addition, Biden believes he can use the 14th Amendment to raise the debt ceiling without Congress's approval. However, experts say the untested legal theory would not hold up in court.
According to a source, Republicans had proposed increasing defense spending while cutting overall expenditure, and the Biden Administration had proposed keeping non-defense discretionary spending flat for the following year.
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