Biden's Confidence on Debt Ceiling Deal Wavers Amid Cancelled Quad Summit and Criticism.
President Biden expressed confidence that a deal can be reached with GOP leaders to raise the nation's borrowing limit before a potential default. Republicans are pushing for stricter rules around federal aid programs, such as tougher work requirements, which Democrats have rejected. Negotiations have grown more urgent as Biden heads to meet with Group of Seven allies, and Treasury Secretary Janet Yellen reiterated that the U.S. could hit the debt ceiling as soon as June 1. Biden and the Democratic-controlled Senate are adamant that a bill to lift the debt ceiling must be dealt with separately from next year’s budget.