WASHINGTON: President Joe Biden said on Tuesday (May 9) he made clear in a meeting with top Republican lawmakers that a US default 'is not an option', as both sides failed to reach a breakthrough on the country's debt limit. Republican House Speaker Kevin McCarthy and Mitch McConnell, the Senate minor
WASHINGTON: President Joe Biden said on Tuesday he made clear in a meeting with top Republican lawmakers that a US default"is not an option", as both sides failed to reach a breakthrough on the country's debt limit.
McCarthy said after the talks that he"didn't see any new movement", although the four and Biden will meet again on Friday. He conceded it was"possible" he did not make the trip, telling reporters:"If somehow we got down to the wire and still haven't resolved this ... I would not go." Time is critical. On Sunday, Treasury Secretary Janet Yellen warned that unless Congress acts in the coming weeks,"financial and economic chaos would ensue".
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