A June 1 deadline still looms.
President Joe Biden meets with House Speaker Kevin McCarthy to discuss the debt limit in the Oval Office of the White House on May 22, 2023. | Alex Brandon/AP PhotoPresident Joe Biden and Speaker Kevin McCarthy ended their one-on-one meeting Monday still short of a deal to avoid a U.S. debt default that could come as soon as June 1.
Yet McCarthy described the tone of the meeting “better than any other” discussion, adding that he believed the two sides would ultimately strike an agreement. House GOP leaders have said they must reach a bipartisan fiscal deal this week so that Congress has enough time to pass the measure and send it to Biden’s desk to avoid a potentially market-crashing debt breach.
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Yellen confirms early June deadline to McCarthy as leaders enter debt talksTreasury Secretary Janet Yellen has confirmed to congressional leaders that the deadline to pass a debt ceiling increase and avoid the United States defaulting on its obligations is early June.
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McCarthy says debt ceiling negotiations paused until Biden returnsThere are no meetings currently scheduled for Saturday between White House and GOP negotiators, multiple sources familiar with the matter told ABC News.
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Biden to call McCarthy to discuss debt ceiling after G7 summitNEW: Pres. Biden asked his team to set up a call with Speaker McCarthy to discuss the debt ceiling negotiations after his G7 meetings, a White House official says.
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McCarthy says Biden would rather default on debt than upset 'socialists''The White House is moving backward in negotiations,' McCarthy said.
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Biden, House Speaker McCarthy could speak Sunday on debt limitU.S. President Joe Biden and top congressional Republican Kevin McCarthy could speak as soon as Sunday in talks over raising the federal $31.4 trillion debt ceiling.
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Biden, House Speaker McCarthy to speak on debt limit“We’re going to get a chance to talk later today,” Biden said of McCarthy, R-Calif., while the president met with the leaders of Japan and South Korea at the G7 in Hiroshima, Japan.
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