U.S. President Joe Biden and House Speaker Kevin McCarthy declared they had a productive debt ceiling discussion late Monday at the White House, but there was no agreement and neither side appeared to be giving ground as Washington strained to raise the nation's borrowing limit in time to avert a potentially chaotic federal default.
U..S. President Joe Biden and House Speaker Kevin McCarthy both said they had a productive debt ceiling discussion late Monday at the White House, but there was no agreement as negotiators strained to raise the nation's borrowing limit in time to avert a potentially chaotic federal default.
"The time of spending, just spending more money in America and government is wrong," McCarthy after the Oval Office meeting. After a weekend of start-stop talks, both Biden and McCarthy have declared a need to close out a compromise deal. U.S. financial markets turned down last week after negotiations paused amid a jittery economy.
Negotiators for the White House were back at it again for nearly three hours Monday morning with McCarthy's team at the Capitol ahead of the session at the White House. Republicans also want work requirements on the Medicaid health care program, though the Biden administration has countered that millions of people could lose coverage. The GOP additionally introduced new cuts to food aid by restricting states' ability to waive work requirements in places with high joblessness. But Democrats have said any changes to work requirements for government aid recipients are nonstarters.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden to meet McCarthy on Monday as debt ceiling deadline nears - National | Globalnews.caPresident Joe Biden and House Speaker Kevin McCarthy will meet in person on Monday as the government races against a looming deadline to raise America's debt limit.
Read more »
Debt ceiling talks to resume as Biden, McCarthy prepare to meet Monday to resolve standoffWASHINGTON (AP) — The White House and House Republicans wrapped up another round of debt ceiling talks Sunday as Washington races to strike a budget compromise…
Read more »
Debt ceiling talks to resume as Biden, McCarthy prepare to meet Monday to resolve standoffThe White House and House Republicans wrapped up another round of debt ceiling talks Sunday as Washington races to strike a budget compromise along with a deal to raise the nation's borrowing limit and avert an economy-wrecking federal default.
Read more »
Biden, McCarthy to meet Monday for debt ceiling talks as default deadline loomsU.S. President Joe Biden will meet in person Monday with House Speaker Kevin McCarthy about averting an economy\u002Dwrecking federal default.
Read more »
Biden, McCarthy to meet Monday for debt ceiling talks as default deadline loomsU.S. President Joe Biden will meet in person Monday with House Speaker Kevin McCarthy about averting an economy\u002Dwrecking federal default.
Read more »
Biden, McCarthy to hold pivotal meeting on debt ceiling as time to resolve standoff grows shortThey face a deadline, as soon as June 1, when the government could run out of cash to pay its bills.
Read more »