Biden and McCarthy Meet at White House to Discuss Looming Showdown Over Raising the Debt Ceiling

The US has hit the debt ceiling set by Congress in January, forcing the Treasury Department to take extraordinary measures to keep the government paying its bills. In response, President Biden and House Speaker Kevin McCarthy met Wednesday afternoon at the White House to discuss the looming showdown over raising the debt ceiling.

The White House said the two leaders discussed a “range of issues” during their meeting, though the face-to-face gathering comes as the two sides are girding for a high-stakes fight over the debt ceiling. The US hit the limit on the amount of debt it can issue to fulfill its obligations last month, setting up a June deadline for Congress to raise the debt ceiling or risk a default on the national debt.

McCarthy told reporters after the meeting concluded that it was a “good” meeting, but no agreements were made. The White House has countered that it will not offer concessions or negotiate on raising the debt ceiling. The House GOP majority is pushing for a clean debt limit increase, while the White House is looking for a longer-term solution.

The meeting between Biden and McCarthy is the first time the two have sat down alone since Republicans took control of the House and McCarthy claimed the speaker’s gavel. It is unclear how the fight to raise the national debt limit will unfold, but the outcome of the meeting between the two leaders will likely have a significant impact.