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President Joe Biden and House Speaker Kevin McCarthy will meet Monday afternoon with just 10 days to reach a debt ceiling deal or risk an unprecedented default. President Joe Biden and House Speaker Kevin McCarthy will meet Monday afternoon in the Oval Office to directly negotiate with just 10 days to reach a debt ceiling and spending deal or risk an unprecedented default . In the meantime, White House negotiators arrived back on Capitol Hill early Monday and met for nearly three hours with Republican mediators. Rep. Patrick McHenry, R-N.C., told ABC News there are currently no additional meetings on Capitol Hill scheduled for the day, but said he wanted talks this week to be productive. "I don't think there's any interest in us delaying these tough conversations," McHenry said, declining to discuss specifics of where the talks stand. "And so we want this to be productive. I want this to be a productive week." Time is running out for a compromise. Treasu...

The House and Senate each have roughly a dozen working days left before Treasury Secretary Janet Yellen's June 1 default warning. Lawmakers are staring down a fast-approaching deadline to raise the debt ceiling or risk default as early as June 1, but the timeline to reach a solution is actually much shorter. Memorial Day recess for the House and Senate and President Joe Biden's upcoming Travel shrink the number of working days for lawmakers to come to a debt ceiling deal by June, which is when Treasury Secretary Janet Yellen warned the federal government could become unable to pay all of its bills on time. Yellen, whose estimate relied on the most recent data, wrote she could not definitively say when the so-called "X-date" for default would begin. In total, according to tentative House and Senate calendars, both chambers will be in session at the same time for just eight days before the end of May. "Time is of the essence," said Shai Akabas, the director...