{"id":1935402,"date":"2023-05-22T03:30:01","date_gmt":"2023-05-22T07:30:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthy-to-meet-on-monday-as-debt-ceiling-talks-resume\/"},"modified":"2023-05-22T03:32:33","modified_gmt":"2023-05-22T07:32:33","slug":"biden-and-mccarthy-to-meet-on-monday-as-debt-ceiling-talks-resume","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthy-to-meet-on-monday-as-debt-ceiling-talks-resume\/","title":{"rendered":"Biden and McCarthy to discuss debt ceiling on Monday."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-and-mccarthy-to-meet-on-monday-as-debt-ceiling-talks-resume%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1935402&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Biden and McCarthy to Meet on Debt Ceiling<\/h2>\n<p>U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet on Monday to discuss the debt ceiling, following a &#8220;productive&#8221; phone call as the president headed back to Washington, the two sides said on Sunday. McCarthy, speaking to reporters at the U.S. Capitol following the call, said there were positive discussions on solving the crisis and that staff-level talks were set to resume later on Sunday.<\/p>\n<h3>Deadline Approaching<\/h3>\n<p>Less than two weeks remain until June 1, when the Treasury Department has warned that the federal government could be unable to pay all its debts, a deadline U.S. Treasury Secretary Janet Yellen reaffirmed on Sunday. A failure to lift the debt ceiling would trigger a default that would cause chaos in financial markets and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/major-financiers-warn-fed-may-spike-interest-rates\/\" title=\"Major Financiers Warn Fed May Spike Interest Rates\">spike interest rates<\/a>.<\/p>\n<h3>Positive Talks<\/h3>\n<p>McCarthy&#8217;s comments on Sunday appeared more positive than the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/belarus-claims-alleged-russian-war-crimes-were-staged-by-britain\/\" title=\"Belarus Claims Alleged Russian War Crimes Were Staged by Britain\">increasingly heated rhetoric<\/a> in recent days, as both sides reverted to calling the other&#8217;s position extremist and talks stalled. &#8220;Much of what they&#8217;ve already proposed is simply, quite frankly, unacceptable,&#8221; Biden told a news conference in Hiroshima. &#8220;It&#8217;s time for Republicans to accept that there is no bipartisan deal to be made solely, solely on their partisan terms. They have to move as well.&#8221;<\/p>\n<h3>Spending Cuts<\/h3>\n<p>McCarthy said Republicans backed an increase in the defense budget while cutting overall spending, and that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mccarthy-took-social-security-cuts-off-the-table-in-debt-ceiling-talks-but-its-still-third-rail-in-politics\/\" title=\"McCarthy Took Social Security Cuts Off the Table in Debt Ceiling Talks, but It\u2019s Still Third Rail in Politics\">debt ceiling talks<\/a> have not included discussions about <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lindsey-graham-will-not-support-mcconnell-as-leader-unless-he-can-prove-a-working-relationship-with-trump\/\" title=\"Lindsey Graham Will Not Support McConnell as Leader Unless He \u2018Can Prove\u2019 a \u2018Working Relationship\u2019 with Trump\u00a0\">tax cuts passed<\/a> under former President Donald Trump. A source familiar with the negotiations said the Biden administration had proposed keeping non<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthy-to-meet-on-monday-as-debt-ceiling-talks-resume\/\" title=\"Biden and McCarthy to discuss debt ceiling on Monday.\">-defense discretionary spending flat<\/a> for the next year.<\/p>\n<h3>Time is Running Out<\/h3>\n<p>Republicans hold a slim majority in the House and Biden&#8217;s fellow Democrats have narrow control of the Senate, so no deal can pass without bipartisan support. But time is running short as Monday&#8217;s meeting will take place with just 10 days left to hammer out a deal before hitting Treasury&#8217;s deadline. McCarthy has said he will give House lawmakers 72 hours to review an agreement before bringing it up for a vote.<\/p>\n<ul>\n<li>Biden willing to cut spending together with tax adjustments to reach a deal<\/li>\n<li>Republicans&#8217; latest offer on debt ceiling was &#8220;unacceptable&#8221;<\/li>\n<li>Concerns about default are weighing on markets<\/li>\n<li>Last time the nation came this close to default was in 2011<\/li>\n<\/ul>\n<p>It is crucial that a deal is reached before the deadline to avoid a default and the chaos it would cause in financial markets. Both sides seem to be making progress, but time is running out. The next few days will be crucial in determining whether a deal can be reached.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden and House Speaker McCarthy will meet on Monday to discuss the debt ceiling, following a &#8220;productive&#8221; phone call. McCarthy confirmed the meeting after Biden&#8217;s return to Washington.<\/p>\n","protected":false},"author":66,"featured_media":1935403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[3620,10142,5487,4480,3663,4452],"class_list":["post-1935402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-biden","tag-ceiling","tag-debt","tag-discuss","tag-mccarthy","tag-monday"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1935402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1935402"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1935402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1935403"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1935402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1935402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1935402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}