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Biden will insist that raising debt limit is not 'bargaining chip' -White House

Reuters
·1 min read

WASHINGTON, Feb 6 (Reuters) - U.S. President Joe Biden will insist in his State of the Union address that raising the debt limit of the United States is not negotiable and should not be used as "bargaining chip" by U.S. lawmakers, his top economic adviser Brian Deese said on Monday.

"This bedrock idea that the United States has met all of its financial obligations for its existence as a country isn't something that anybody should be using as a bargaining chip. It's not a negotiable item," Deese said.

He said the economic consequences of questioning that principle could be "quite severe" and could allow adversaries to claim that the "full faith and credit" of the United States had been weakened. (Reporting by Jeff Mason and Andrea Shalal Editing by Chris Reese)

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