Biden May Skip G7 Summit Due to National Debt Issues

US President Joe Biden has indicated that he may remain in the country and not attend the G7 summit due to the situation surrounding the national debt. The summit is set to take place from May 19-21 in Hiroshima, Japan.

When asked whether there is a possibility that the G7 summit might be postponed because of domestic financial issues, Biden stated that he still wants to travel to Japan, but the issues of national debt and potential default are 'of utmost importance' on the agenda. At the same time, Biden noted that his absence from the G7 summit is 'possible but unlikely.'

Today, Biden emphasized that if negotiations to raise the national debt ceiling fail, a potential default would be devastating for the American economy.

Earlier, US Treasury Secretary Janet Yellen had sent a letter to Congress indicating that authorities could run out of emergency measures related to the national debt ceiling as soon as June 1, which could lead to a default.

It is worth noting that Biden's meeting with Congressional leaders regarding the national debt concluded without significant results, as reported by American media.