The window to avert a default on the nation's debt is closing, but neither side is showing a willingness to cave on debt ceiling talks. POTUS and SpeakerMcCarthy are set to meet next week, but Congress appears to be struggling to break the stalemate.
Treasury Secretary Janet Yellen sent shock waves through the Beltway on Monday by revealing the timeline to default got bumped up. Although President Joe Biden and House Speaker Kevin McCarthy are set to meet next week, Congress appears to be struggling to break the stalemate.Biden made calls to all four congressional leaders Monday, and McCarthy agreed to sit down on May 9. The pair haven't met since February.
Now, Democrats in the Senate are beginning to talk about introducing a bill to force a clean debt limit hike despite appearing not to have 60 votes. Senate Minority Leader Mitch McConnell has stepped back and said he will let McCarthy take the lead in negotiations with the White House. "I wouldn't pay too much attention to this. This June 1 date. I think that's a political statement, not a statement based on fact," Sen. John Kennedy said."It's predictable. I think Secretary Yellen is trying to put pressure on Congress."
“I hope President Biden’s invitation to Congressional leaders is sincere and he is genuinely willing to negotiate because the country cannot afford a failed negotiation,” Manchin said in a statement. “I urge President Biden to show true leadership and finally put politics aside and the well-being of our nation first.”
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