Negotiators for Democratic President Joe Biden and opposition Republican negotiator Kevin McCarthy said both sides had made progress in resolving the US debt dispute.
“We made some progress in the work (…). That’s very positive,” McCarthy told reporters after a four-hour meeting at the White House. US presidential spokeswoman Karine Jean-Pierre said talks remain fruitful. a deal here.”
Time is of the essence: According to the Treasury Department, the United States is threatened with insolvency starting June 1 without a deal. The United States had already reached the legal debt limit of just under $31.4 trillion (about €29 trillion) in January.