Debt ceiling showdown intensifies between Biden and McCarthy.

President Biden and Speaker McCarthy are engaged in a tit-for-tat battle over the nation's finances, with little indication that either side is willing to budge on the matter of raising the debt ceiling. Biden is holding his ground on wanting a clean debt ceiling increase this year, while McCarthy is still working to unite his fractured conference and has laid out proposals that the White House and Democrats almost immediately panned. Both sides have not yet determined when to resume talking.