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“US default risk on June 1st”, Biden speaks to McCarthy Last Hour

(ANSA) — WASHINGTON, MAY 1 — President Joe Biden spoke with US House Speaker Kevin McCarthy about expanding the US government debt to avoid a default. This was reported by a source close to the negotiations.

Biden invited McCarthy and other senior Republican and Democratic congressional leaders “to a meeting at the White House on May 9” to discuss the issue.

US Treasury Secretary Janet L. Yellen has warned that the US could default on June 1 unless Congress raises or suspends the debt limit, and has pressured the President and lawmakers to reach an agreement to avoid that scenario to avoid.

As the leader of the narrow Republican majority in the House of Representatives, McCarthy has primary control over US budget affairs. But Biden has made it clear that he will not accept the speaker’s current proposal to allow the U.S. debt limit to be extended only in exchange for deep spending cuts on programs Democrats say are vital to Americans. In addition to McCarthy, Biden also invited House Minority Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer, and Republican Senate Minority Leader Mitch McConnell, the White House said. (HAND).

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