House Speaker Kevin McCarthy said Monday there’s been “no progress” on debt ceiling talks ahead of a meeting with President Joe Biden and other congressional leaders scheduled for Tuesday at the White House, as the country pushes closer to a crisis over the need to raise its legal borrowing limit.
on Tuesday to meet with Biden. The meeting was initially supposed to be Friday, but was abruptly postponed so staff-level talks could continue through the weekend.
The president remained hopeful that an agreement could be reached with Republicans to avoid what would be an unprecedented debt default, which could trigger a financial catastrophe. “We’ve not reached the crunch point yet,” Biden told reporters Saturday before flying to his beach home. “There’s real discussion about some changes we all could make. We’re not there yet.”
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