White House Says Has Not Seen Formal Offer from Republicans on Debt Limit

WASHINGTON (Pakistan Point News / Sputnik - 07th October, 2021) The� White House has not seen a formal offer from the Republican Senate Minority Leader Mitch McConnell on the debt ceiling and does not consider a statement published by the senator as being one amid the looming prospects of the United States defaulting on its debt, spokeswoman Jen Psaki said.

"At the point I walked out here is that there's been no formal offer made. A press release (statement) is not a formal offer," Psaki said during a press briefing on Wednesday.

Psaki pointed out that McConnell's options, presented in the statement, are more complicated,� difficult and risky than what President Joe Biden has offered to solve the issue of the debt ceiling as soon as possible.

Earlier on Wednesday, McConnell proposed to Republicans to pass an emergency debt limit extension bill to cover Federal expenses through December to prevent the looming default or to vote for stand-alone debt limit legislation according to a reconciliation procedure.

Senate Republicans have twice blocked efforts to raise the debt ceiling and prevent a default that Treasury Secretary Janet Yellen said could cause a crisis of enormous proportions.

Without congressional action to hike the $28.4 trillion debt limit, the Treasury Department says it could run out of money by October 18.