House Speaker Kevin McCarthy and President Biden will meet Monday to resume talks on how to avoid a catastrophic debt default as the June 1 deadline looms.
Speaker of the Kevin McCarthy, R- Calif., walks out of his office to speak with members of the press after participating in a phone call on the debt ceiling with President Joe Biden, Sunday, May 21, 2023, on Capitol Hill in Washington. Walking behind McCarthy is Rep. Garret Graves, R-La., McCarthy's top mediator in the debt limit talks.
McCarthy didn't elaborate further about the outcome of his discussion with Mr. Biden, saying"nothing has been agreed to." The White House issued a short readout of the call, confirming McCarthy and Mr. Biden's meeting on Monday and saying their staff will meet Sunday at 6 p.m. Before departing from Hiroshima, Japan, Mr. Biden said he had"done my part" in negotiating with Republicans, adding"now it's time for the other side to move their extreme positions because much of what they've already proposed is simply, quite frankly, unacceptable."
Republicans want to raise the limit on the country's borrowing authority in exchange for spending cuts, while Democrats, including Mr. Biden, want to increase the debt limit without any conditions attached. Mr. Biden insists raising or suspending the debt ceiling is Congress' responsibility to handle, while Republicans say Mr. Biden and Democrats on Capitol Hill must compromise on spending. , Democratic Rep.
"We should assume the date is June 1, but I think the math tells us that there is a little bit of wiggle room," Fitzpatrick said. Still, he noted that the looming deadline in and of itself is not the only cause for swift action from Congress, referencing theTrending News
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