President Biden and Speaker McCarthy are scheduled to meet on Tuesday afternoon to discuss a way to break the logjam on the debt ceiling.
as early as June 1, leaving Congress with fewer than three weeks to avert a potential worst-case scenario.
Biden met with McCarthy, Senate Majority Leader Chuck Schumer, D-N.Y., Senate Minority Leader Mitch McConnell, R-Ky., and House Minority Leader Hakeem Jeffries, D-N.Y., last Tuesday. Since then, White House and Capitol Hill staffers have held private meetings to consider a path forward, but they’ve been tight-lipped about the details of the negotiations. It’s unclear how much progress they have made.
Biden has been reluctant to characterize the talks while they're ongoing but said last week he is “certain” default can be averted, and he remained hopeful over the weekend. Still, Biden has continued to put pressure on Republicans, calling the looming default “a manufactured crisis” and insisting the responsibility falls on Congress to avoid it.
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