McCarthy Says Debt Talks With Biden 'Productive,' But No Deal Yet

House Speaker Kevin McCarthy said he and President Joe Biden had a productive talk but have not yet reached a deal to avert a catastrophic US debt default.

The two sat down at the White House for more than an hour Monday evening. Earlier, Treasury Secretary Janet Yellen warned it’s now “highly likely” her department will run out of sufficient cash in early June and that default could come as soon as June 1.

“The tone tonight was better than any other time we have had discussions,” McCarthy said as he emerged from the meeting. The two leaders, he said, “had a productive discussion. We don’t have an agreement yet.”

McCarthy said he expected to speak daily with Biden until a deal is sealed.

--------

Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.

Connect with us on…

[bradforward]

Spend the money, refuse to pay for it. Republicans are dead beats.

[ChanteleVaughn]

How about cutting the congressional gym, your office redecorating funds, oh ya, no free lunches.

[carsonianthegreat]

Fighting over the debt is pointless if we still can’t even decide what a man or woman is.

[powerflightme]

totally does not concur with the Economy of The U.S.Treasury and the Constitution. This man is giving Southern Confederation vibes. ✉️people...smh

[MeriWench]

Cut federal lifetime pay to none after they leave office and they get cobra for 6 months

[gregkoenig]

What is said is not unreasonable. Government waste is exponential

[tensangliew]

Politicial talk. Productive but don't have agreement yet.

[dontcare]

Our fiat money is worthless. Raise the debt ceiling every year and keep pretending it's ok until next year. "Every lie we tell incurs a debt to the truth, sooner or later that debt is paid"

[Jamesthefastguy]

Noooo new system
More Open system
Cap living cost 💲 globally

[avdkmusic]

Cut the spending. Stop sending money overseas