President Joe Biden and House Speaker Kevin McCarthy met Monday to discuss the debt limit amid the looming default deadline, but did not reach an agreement.
McCarthy said he and Biden had a “productive” meeting and may have to meet “everyday” to come to a consensus on the debt limit and spending cuts.
Biden and Congressional leaders have just 10 days to reach an agreement before the predicted June 1 default. The president has met twice with all the leadership team including McCarthy, House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell, and discussions have been ongoing with staff from both branches of government since Tuesday.
“But as he was not able to pay, his master commanded that he be sold, with his wife and children and all that he had, and that payment be made.” Matthew 28:25
Biden returned from his trip to Asia early Sunday, postponing his preplanned trips to Australia and Papua New Guinea, to resume the talks in person. McCarthy has also said the House may have a shorter recess to vote on the debt limit next week, if needed.
McCarthy is attempting to tie a raise to the debt ceiling to spending cuts, and wants the government to spend less than they did last fiscal year. He has proposed spending cut policies like establishing new work requirements for those who receive federal subsidies.
Biden expressed frustration at the state of negotiations on Sunday, blaming some “MAGA Republicans” for trying to sabotage his chances of being president again.
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