Debt ceiling deadline looms as Biden meets with congressional leaders.

President Joe Biden will meet with congressional leaders to discuss lifting the debt ceiling with less than a month before the federal government is set to run out of money. Lifting the debt ceiling is necessary for the government to cover spending commitments already approved by Congress and the president and prevent default. The Treasury Department has started to take extraordinary steps to keep paying the government's bills, and expects to be able to avoid a first-ever default at least until early June. House Republicans have said they will not lift the limit if Biden and lawmakers do not agree to future spending cuts.