Biden and McCarthy to meet on debt ceiling

President Joe Biden and House Speaker Kevin McCarthy are to meet late Monday at the White House at a pivotal moment as Washington works to strike a budget compromise and raise the nation’s borrowing limit in time to avert a potentially chaotic federal default.

Biden likely to resume debt limit talks on Tuesday

The nation continues to edge closer to its legal borrowing authority with no agreement in sight. The Treasury Department has said the government could exhaust the ability to pay its bills as early as June 1.