WASHINGTON - President Joe Biden and Republican House leader Kevin McCarthy's debt ceiling negotiations ended May 16 after less than 30 minutes.
But the fear of an unprecedented American debt default prompted the president to cut short an upcoming trip to the G7 meeting in Japan.
The WH meeting ended on an unexpected note. McCarthy told reporters: "It is possible to get a deal by the end of the week."
He also told reporters President Biden is trying to reach a debt ceiling deal by June 1 to lift the threat of an economic calamity.
There's a lot of work to do in a "short amount of time," McCarthy said, but it does set the stage for future conversations. (Reuters 05/16/23) McCarthy says debt ceiling deal possible this week after talks with Biden (msn.com)
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