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

Editor's Note

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.

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.

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