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Biden, McCarthy Meet to Discuss Debt Limit
Posted
May 9, 2023
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1,850
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May 9, 2023
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1:15Now PlayingPresident Joe Biden and Speaker Kevin McCarthy met with other congressional leaders Tuesday hours after both made clear they aren’t interested in a short-term debt-limit extension.
Neither side has shown any sign of compromise as the threat of first-ever US default looms weeks away and markets show early signs of strain.
“We’re going to get started and solve all the world’s problems,” Biden quipped before the meeting, which marked the first time he and McCarthy have met to discuss the nation’s borrowing limit since Feb. 1.
If the meeting yields little or no progress, it’s likely to increase market anxiety ahead of June 1 — the date Treasury Secretary Janet Yellen has warned the nation could exhaust its ability to meet all payment obligations without action.
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