The looming default in the United States is causing serious concern in the U.S. administration, because the head of the country, Joe Biden, and House Speaker Kevin McCarthy are not having any discussions about expanding the national debt limit, either formally or informally, reports Prime news agency, citing Politico.

According to the foreign publication, Republicans have already prepared a bill to increase the public debt limit by $1.5 trillion, as well as reducing spending by more than $4.5 trillion, while their growth should not exceed 1% per year. If the White House needs additional funds, it will have to coordinate their allocation with Congress. The document was introduced by the Speaker last week.

However, the Biden administration, as before, has not accepted any conditions for expanding the national debt. Despite his statements that the U.S. will be insolvent in the summer, the president refuses to negotiate with the speaker.