Debt Ceiling Showdown: Biden and McCarthy's Negotiations Under Scrutiny

President Biden will meet with Speaker Kevin McCarthy and other congressional leaders to discuss the federal debt and spending in the weeks before the nation is set to default on its obligations for the first time in history. The meeting will be the first sit-down session between the Democratic president and Republican speaker since February. With the federal government expected to default on its debt as soon as June 1 without an agreement, Mr. McCarthy and his Republican caucus have refused to raise the debt ceiling without commitments to major spending cuts.