President Biden and Kevin McCarthy began debt-ceiling negotiations, with the House speaker expressing cautious optimism that they can strike a deal to avoid a default
WASHINGTON—President Biden met with House Speaker Kevin McCarthy as theand the two remain far from an agreement to avoid the first-ever default on the nation’s debt.
The meeting Wednesday afternoon at the White House came as Republicans in their new House majority have said they want an agreement to cut government spending in exchange for voting to increase, but haven’t agreed among themselves on what cuts they want. The White House has insisted that there will be no negotiating over the debt limit and reiterated on Wednesday that Congress should raise it without conditions, though past presidents of both parties have negotiated on the topic.
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