President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) will meet on May 22 for in-person talks on resolving the debt ceiling crisis. Over the weekend, negotiations between representatives from each side stalled as both doubled down on their demands. Rep. Garret Graves (R-La.), the lead negotiator for Republicans, told reporters on May 19 that…

House Speaker Kevin McCarthy (R-Calif.) expects to bring a deal on raising the federal debt ceiling before the House next week, he told reporters on May 18. The positive tone marks a change for the Speaker, who as recently the day before had refused to say he was optimistic about reaching an agreement with President…

America will not default on its financial obligations and an agreement on spending priorities will be reached in the coming days, President Joe Biden said before departing on a trip to strengthen U.S. relationships with allies. “America is not a deadbeat nation. We pay our bills. The nation has never defaulted on its debt, and…

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) have delegated primary negotiations over raising the debt ceiling and cutting spending to trusted surrogates, establishing a clearer process for resolving the standoff between the parties. Steve Richetti, counselor to the president, and Shalanda Young, director of the Office of Management and Budget, will negotiate on…

President Joe Biden is optimistic about reaching an agreement with congressional Republicans on the nation’s debt ceiling. A follow-up meeting between the parties will likely take place on May 16, the president said. House Speaker Kevin McCarthy (R-Calif.) told reporters that Democrats appear to want a default more than they want a solution to the…