No deal on debt ceiling after McCarthy-Biden meeting

"I believe we can get it done," McCarthy said.

Published: May 22, 2023 7:25pm

A Monday meeting between President Joe Biden and House Speaker Kevin McCarthy did not result in a deal to raise the debt ceiling.

The pair on Monday met once again to discuss a possible resolution to avert a default. The U.S. hit its $31.38 trillion spending limit in January of this year, prompting Treasury Secretary Janet Yellen to implement "extraordinary measures" to pay the government's bills. She has repeatedly insisted that lawmakers must reach a deal by June 1 to avert a default.

After the meeting McCarthy expressed optimism that the pair could reach an agreement, saying "I believe we can get it done," according to the New York Times. "We both agree we want to be able to come to an agreement."

The speaker further reiterated Republican non-negotiables, including an opposition to reductions in military spending or raising taxes to address the deficit. The California Republican went on to assert that he and the president would continue to speak every day until they reach an agreement.

The Republican-led House previously passed a bill that would increase the debt limit for one year while capping the growth of domestic spending, though that plan is unlikely to clear the Democratic Senate and President Joe Biden previously vowed to veto it should the plan reach his desk.

Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.

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