Congress and White House Struggle With Debt Deal

House Speaker Kevin McCarthy said Monday that “decisions have to be made” at his meeting with President Joe Biden later in the day at the White House, with only 10 days to go until the U.S. risks default.

“We’ve got to have movement” in order to have progress toward a deal to raise the debt ceiling, McCarthy told reporters in the Capitol. “I know where I think people should be able to get to.”

Shortly before the meeting, Treasury Secretary Janet Yellen reaffirmed June 1 as the earliest date the U.S. could be at serious risk of debt default.

McCarthy acknowledged that the reality of the legislative calendar has added more pressure to his meeting with Biden, which is set to take place in the Oval Office at 5:30 p.m. ET.

“I think we can get a deal tonight, we can get a deal tomorrow, but you’ve got to get something done this week to be able to pass it [in the House] and move it to the Senate” in time to meet the June 1 deadline, he said.

Source: CNBC