President Joe Biden has released his third budget proposal, which includes an increase in the Pentagon budget and funding for crime prevention. The White House believes that crime prevention should be a bipartisan effort, and the budget proposal will give insight into how the President plans to address the national debt and the unsustainable path of Medicare and Social Security. Director of the Office of Management and Budget, Shalanda Young, said that President Biden is sensitive to the size of the national debt and is looking for areas of agreement between the White House and congressional Republicans.
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President Joe Biden is set to meet with House Speaker Kevin McCarthy (R-Calif.) at the White House on Wednesday to discuss the federal budget and debt ceiling. Biden is expected to press McCarthy to provide a detailed list of spending proposals and to commit to the principle that the U.S. will never default. The White House will release its own budget in early March, and has urged McCarthy to do the same. McCarthy has responded to the memo, but has called Biden's demand for assurances that the U.S. won't default "irresponsible".
On Friday morning, a fire broke out in Seoul's Guryong village, destroying around 60 makeshift homes. 800 firefighters, police officers and public workers responded and were able to extinguish the flames within five hours, with no injuries or deaths reported. Images of the aftermath show firefighters and rescue workers cleaning up the site and the charred remains of the makeshift homes, with the cause of the fire still under investigation.