Biden Urges Bipartisan Action on Looming Debt Ceiling Crisis

President Biden has invited congressional leaders, including Speaker Kevin McCarthy, to a meeting at the White House on May 9 to discuss the debt ceiling ahead of a looming deadline. The invitation comes after Treasury Secretary Janet Yellen warned lawmakers that the U.S. government could default as early as June 1 if Congress does not raise the debt ceiling. Republicans are using the debt ceiling as leverage as they seek significant cuts to government spending programs, while the White House maintains that Congress has an obligation to raise the debt ceiling without conditions.