Biden and McCarthy to Discuss Debt Limit on Sunday.

President Biden and House Speaker McCarthy may speak on Sunday to discuss raising the federal debt ceiling, as negotiations have stalled with less than two weeks before the U.S. Treasury Department warns that the federal government could be unable to pay all its debts. Both sides have accused the other of offering proposals that are too extreme. Republicans are pushing for sharp spending cuts in many domestic programs in exchange for the increase in the government's self-imposed borrowing limit, which is needed regularly to cover costs of spending and tax cuts previously approved by lawmakers.