House Speaker Kevin McCarthy spoke with President Joe Biden on the phone and accepted his invitation to a May 9 meeting at the White House with the top four legislative leaders to discuss preventing a default on the debt ceiling.
All four congressional leaders were invited to the meeting by Biden. After Treasury Secretary Janet Yellen warned lawmakers on Monday that the US could default on its debt by June 1st, Biden made the calls.
Biden intends to discuss how to pass a separate fiscal 2024 budget and emphasize the necessity for Congress to act in order to prevent default without conditions.
Biden has been vowing for months not negotiating over the debt ceiling calling Republicans’ demands for concessions “hostage taking” that threatens the nation’s economic stability and reputation abroad. According to officials, Biden has no intention of changing his position at the meeting.
Biden has been vowing for months not to negotiate over the debt ceiling, calling Republicans’ demands for concessions “hostage taking” that threatens the nation’s economic stability and reputation abroad. According to officials, Biden has no intention of changing his position at the meeting.
