The discussions have high stakes. Defaulting on sovereign debt would wreak havoc on the economy and roil markets around the world.
"I really think there's a desire on their part, as well as ours, to reach an agreement, and I think we'll be able to do it," Biden told reporters Sunday in Delaware. As to his state of mind, he said, "McCarthy sang a different tune, telling NBC News on Monday outside the Capitol, "I still think we're far apart."
"It doesn't seem to me yet that they want a deal," McCarthy said. "It seems like they want to look like they're in a meeting. They're not talking anything serious." Biden and McCarthy were slated to meet again Friday with Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell and House Minority Leader Hakeem Jeffries, who attended the last meeting, but that was postponed as negotiations continued behind the scenes. A source familiar with the meetingsThe White House has maintained that Biden intends to go to the G-7 summit in Japan later this week, but the president himself has said that could change depending on the debt ceiling talks.
McCarthy told reporters it was critical that they reach a deal before this weekend so the bill would have enough time to pass through both chambers of Congress and make it back to the president's desk for signing.
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