The U.S. Treasury is warning that the U.S. could run out of cash to keep paying the nation’s bills as soon as June 1 if there is no agreement.
Biden will still attend the Group of Seven summit in Hiroshima, Japan, as planned but canceled the later stops ould cancel the later stops. Kirby noted that Biden will already have met with some of the leaders of the so-called "Quad" — the purpose of the Australia leg of the visit — while in Japan, even as he cautioned that no final decisions have been made.
McCarthy stopped short of suggesting Biden cancel his trip abroad. But he said at the Capitol, "We've got 16 more days to go, I don't think I'd spend eight days out of the country." But congressional Democrats are growing concerned about the idea of putting new work requirements for government aid recipients on the table after Biden suggested he may be open to such changes. The White House remains opposed to changes in requirements for recipients of Medicaid and food stamp programs, although it is more open to revisions for beneficiaries of the Temporary Assistance for Needy Families cash assistance program.
Democratic leader Jeffries' staff sought to reassure them in talks late Monday, while a separate group of more centrist Democrats have signaled to their moderate Republican colleagues they are prepared to work something out to reach a debt ceiling deal, aides said Tuesday. Compounding pressure on Washington to strike a deal, Treasury Secretary Janet Yellen said Monday that estimates are unchanged on the possible "X-date" when the U.S. could run out of cash.
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