President Joe Biden will 'not change course' on the debt limit in his meeting with House Speaker Kevin McCarthy, the White House says.
, Biden faces increasing pressure to soften his stance on Republicans' demands for spending cuts ahead of a June 1 deadline to avoid a government default.proposed by Republicans would prove so unpopular
Biden has accused House Republicans of holding the country"hostage" in order to pass extreme spending cuts.- sent a leader to Senate Majority Leader Chuck Schumer on Monday opposing any package to increase the debt ceiling that doesn't include spending cuts. It means a bill to raise the debt ceiling without spending concessions would lack the 60 votes needed to avoid a filibuster in the Senate.
Treasury Secretary Janet Yellen last week warned the U.S. is on pace to run out of money in early June, perhaps as early as June 1, unless Congress takes action to raise the debt ceiling.
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