Biden and McCarthy meeting on debt ceiling, weeks away from deadline to avoid crisis
Biden will meet Tuesday with Kevin McCarthy and other congressional leaders -- as a fast-approaching deadline looms to raise the debt ceiling or face default President Joe Biden will meet Tuesday afternoon with congressional leaders at the White House -- as a fast-approaching deadline looms to either increase the nation's borrowing limit or risk an unprecedented and potentially devastating debt default that would ripple across the global economy. Tuesday's meeting will be the first time since February that Biden has sat down with House Speaker Kevin McCarthy to discuss the debt and spending. The intervening months have been filled with back and forth, with Biden leading Democrats in pushing for a raise to the debt ceiling "without conditions." McCarthy and other Republicans, meanwhile, continue to say they will only agree to raise the borrowing cap if Biden also agrees to some federal spending cuts and budget changes. Both sides have repeatedly insisted they don...