G7 Summit in Hiroshima: Biden-McCarthy call on debt limit and inspiring messages of peace.

1 min read
Source: The Hill
G7 Summit in Hiroshima: Biden-McCarthy call on debt limit and inspiring messages of peace.
Photo: The Hill
TL;DR Summary

The White House is planning to arrange a call between President Biden and Speaker McCarthy to discuss negotiations on the debt limit after the G-7 summit. The call is expected to take place on Sunday morning as Biden is flying back from Japan. The two sides have been trading criticisms over who is to blame for the breakdown in negotiations, with McCarthy accusing the White House of moving backwards and the White House blaming Republicans for holding the economy hostage. The Treasury Secretary has warned that the US could default as early as June 1 if Congress does not act to raise the debt limit.

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