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.
