The Washington PostThe Washington Post

Debt ceiling meeting between Biden, McCarthy ends with no deal Monday

By Tony Romm

23 May 2023 · 6 min read

The US may run out of cash in little over a week's time. While President Biden and House Speaker Kevin McCarthy are still hopeful of averting a debt crisis, the clock is ticking. The Post reports.

Curated by informed

WASHINGTON - With as few as 10 days remaining until the U.S. government could default, President Biden on Monday resumed direct negotiations with House Speaker Kevin McCarthy (R-Calif.), hoping to resolve a stalemate over the debt ceiling that has started to spook Wall Street.

The two men commenced the new round of talks after a weekend of turbulence and acrimony, and mere hours after the Treasury Department issued its latest warning - this time, using more urgent language - that the United States is "highly likely" to run out of cash and other options in early June, perhaps as soon as the first of the month.

The news, curated.

Subscribe in our mobile app to continue reading this The Washington Post article

Already subscribed? Sign in

Get world-class journalism from premium publishers, curated by editors and experts. All in one app.

Subscribe now and get 14 days free.