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By Anders Anglesey
U.S. News Reporter
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President Joe Biden used his press conference at the G7 to attack Republicans over their "unacceptable" demands in the stalled debt ceiling negotiations.
Speaking today at the G7 summit in Hiroshima, Japan, Biden accused the GOP of holding "extreme positions" as lawmakers work to thrash out a deal.
Biden told reporters: "Now it's time for the other side to move from their extreme positions. Much of what they've already proposed is simply, quite frankly, unacceptable.
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"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 don't need an incentive of another $30 billion."
In a somewhat sarcastic response to a question by Fox News' Peter Doocy about whether anyone would blame him for a breach, Biden said: "Of course, no one will blame me, I know you won't. You'll say: Biden did a wonderful job.'"
He added: "On the merits of what they're [Republicans] offering, I will be blameless. On the politics of it, no one will be blameless. That's some of the things some are contemplating.
"I have to be careful here, I think there are some MAGA Republicans in the house who know the damage it would do to the economy, and because I'm president, and the president is responsible for everything, Biden will take the blame and that's the only way to ensure that Biden is not re-elected."
House Majority Speaker Kevin McCarthy (CA-R) yesterday hit out at Biden on Twitter and accused the White House of "moving backward in negotiations."
He added in a separate May 20 tweet: "President Biden doesn't think there is a single dollar of savings to be found in the federal government's budget.
"He'd rather be the first president in history to default on the debt than to risk upsetting the radical socialists who are calling the shots for Democrats right now."
If Democrats and Republicans fail to reach a deal, it could result in the U.S. defaulting on its estimated $31.4 trillion debt.
A default as early as June 1 would result in the government not having the ability to borrow more money to pay its bills.
Earlier this month, Biden claimed the Republicans' bill to avoid a debt default would result in 21 million people losing Medicaid, cutting 30,000 law enforcement officers and 375 air traffic control towers.
But Republicans are insisting on an increase in military spending, veterans care and border security, and a cut to other programs.
Newsweek has contacted the White House for comment via email.
Update 05/21/23 at 8:20 a.m. ET: This article was updated with additional information.
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