WASHINGTON, D.C. -President Joe Biden accused Republicans on Friday of holding the US economy "hostage" by refusing to pass a debt limit increase unless he first agrees to "draconian" budget cuts. Biden said he would tell congressional leaders when they meet on Tuesday that they must do "what every other Congress has done -- that is pass the debt limit, avoid default."Republicans in Congress are insisting on Biden first accepting major budget cuts before they vote to extend the US debt ceiling, allowing the government to borrow more money. The Biden administration says funds will run out as early as June 1 if the extension -- an annual accounting maneuver that usually...Keep on reading: Biden says Republicans holding US economy ‘hostage’