NO DEAL YET

McCarthy, Biden Emerge From Debt Ceiling Meeting Without a Deal

The president acknowledged that “areas of disagreement” remained between Republicans and Democrats as a deadline as soon as June 1 looms.

House Speaker Kevin McCarthy said Monday that a deal had not yet been reached on raising the nation’s $31.4 trillion debt ceiling, but that an hourlong discussion with President Joe Biden he’d had that day had been “productive.” Speaking to reporters outside the West Wing, McCarthy said, “I think the tone tonight was better than any other night we’ve had discussions,” and that he believed a deal could still be struck. “We don't have an agreement yet, but I did feel like the discussion was productive in areas that we have difference of opinion,” he said. “We’re going to have the staffs continue to get back together and work based on some of the things that we had talked about.” A source familiar with the matter told Reuters that White House negotiators were returning to Capitol Hill on Monday night to resume talks, with just 10 days remaining until a possible debt default that could throw the U.S. and global economies into chaos. In his own statement, Biden also characterized the meeting as “productive,” saying that though “areas of disagreement” remained, both sides agreed “that default is off the table” and that talks would continue.