Biden and McCarthy remain optimistic on debt ceiling deal despite differences.

House Speaker Kevin McCarthy and President Joe Biden had a productive meeting on Monday regarding the nation's debt ceiling, but "philosophical differences" remain. Negotiators for the president and the speaker will keep working toward a deal, McCarthy said, and he expects he'll speak with Biden daily. Major disagreements so far have been on the scope of any spending cuts or freezes and the possibility of new taxes in a debt deal. McCarthy also opposes defense spending cuts and any changes to immigration policy. The deadline for raising the debt limit is June 1, and the possibility of making it to mid-June without default is "quite low."