(The Guardian) McCarthy says still 'far apart' with Democrats on debt ceiling
Despite encouraging signs from the White House over the weekend, the Republican speaker of the House, Kevin McCarthy, gave a gloomy assessment of talks on raising the debt ceiling when CNN caught up with him today:
The US government earlier this year hit the legal limit on how much debt it can accrue, and around 1 June is expected to exhaust its cash on hand and potentially default on its obligations for the first time in history. McCarthy has demanded Democrats agree to spending cuts and other conservative priorities in exchange for the GOP voting to raise the limit.
Joe Biden and Senate Democrats, meanwhile, say the limit must be raised without preconditions. The two sides met last week and continued talking, and over the weekend, Biden administration officials signaled some progress was being made. “I’m hopeful. I think the negotiations are very active. I’m told they have found some areas of agreement,” Treasury secretary Janet Yellen said in an interview with the Wall Street Journal published on Saturday.
Despite encouraging signs from the White House over the weekend, the Republican speaker of the House, Kevin McCarthy, gave a gloomy assessment of talks on raising the debt ceiling when CNN caught up with him today:
The US government earlier this year hit the legal limit on how much debt it can accrue, and around 1 June is expected to exhaust its cash on hand and potentially default on its obligations for the first time in history. McCarthy has demanded Democrats agree to spending cuts and other conservative priorities in exchange for the GOP voting to raise the limit.
Joe Biden and Senate Democrats, meanwhile, say the limit must be raised without preconditions. The two sides met last week and continued talking, and over the weekend, Biden administration officials signaled some progress was being made. “I’m hopeful. I think the negotiations are very active. I’m told they have found some areas of agreement,” Treasury secretary Janet Yellen said in an interview with the Wall Street Journal published on Saturday.
