WASHINGTON - President Joe Biden will again stress the importance of raising America’s debt ceiling in a meeting with CEOs from major businesses.The meeting, scheduled for 1 p.m.
E.T on Wednesday, will be held in the South Court Auditorium near the White House and attended by heads of banks like Citi, JP Morgan Chase and Bank of America, according to the Associated Press.RELATED: JPMorgan planning for ‘potentially catastrophic’ event if US hits debt limitCongress avoided a partial government shut down last week when it funded federal programs in a stopgap bill.
But experts say failing to raise the debt ceiling would prove far more disastrous than a shutdown could.The U.S. government operates at a budget deficit, meaning it spends more money.