On Friday evening, US President Joe Biden was "optimistic" about the prospects of an agreement with the Republican opposition, stressing that negotiators on both sides are "very close" to concluding.

The discussions continued late into the night and resumed Saturday morning, the negotiators pointing to "progress" but also final stumbling blocks related in particular to the demands of the Republicans conditioning the granting of certain social benefits.

"Our economy needs to be one that helps fill the cupboards in our kitchens, not the pockets of the ultra-rich," Biden tweeted.

Asked Saturday morning if there would be an agreement before the deadline, Republican House leader Kevin McCarthy replied: "Yes."

"I really think we can do it," he told reporters while warning that there were still points "to be settled".

"We're not there yet," he added.

The United States, which entered the extended weekend of "Memorial Day", the holiday of veterans on Monday, remains suspended on an agreement to raise the debt ceiling, essential to avoid the default that would have catastrophic consequences for the global economy.

The date by which the US Treasury will be unable to meet its financial commitments is now set for June 5, against June 1 previously, offering the country a few days of respite.

This concerns civil servants' salaries, pensions or repayments from creditors.

Red lines

Among the points of disagreement between the two camps is the Republicans' demand to limit the receipt of certain social benefits, such as food aid, to a number of hours worked.

Chart showing the US debt ceiling since October 2005 © / AFP

"I don't think it's good to borrow money from China to pay healthy people who don't have dependents to hang out on their couch," McCarthy, who poses as an intransigent defender of fiscal discipline, said in a video shared Saturday.

White House spokesman Andrew Bates accused Republicans of wanting to hold the economy hostage and jeopardize "more than eight million jobs" while wanting to "take the bread out of the mouths of hungry Americans."

Joe Biden, campaigning for re-election, is positioning himself as a champion of social and fiscal justice and has repeatedly said he is opposed to massive budget cuts that would impact the most precarious workers and households.

One of the Republican negotiators Patrick McHenry spoke of a "short list of disagreements" remaining between the two camps. "It's a matter of hours or days," he said Saturday.

The pressure surrounding the negotiations is all the stronger as the compromise, once reached, will have to be validated by the Senate with a Democratic majority and the House of Representatives dominated by Republicans.

The Capitol, May 26, 2023 © Mandel NGAN / AFP

However, the parliamentary calendar is tight many elected officials having returned to their fiefdoms for a few days on the occasion of the "Memorial Day" holiday weekend. They have been instructed to be ready to return to Washington within 24 hours if an agreement is reached.

And Republican leader Kevin McCarthy has promised he will give everyone 72 hours to consider the compromise before considering any vote.

A vote that remains uncertain, progressive elected within the Democratic Party, as well as Republican elected officials, having threatened not to ratify or to delay as much as possible a text that would make too many concessions to the opposing camp.

On Friday, IMF Managing Director Kristalina Georgieva said a deal was "paramount" for the global economy, while stressing that the United States must do "more to reduce public debt."

© 2023 AFP