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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