U.S. Debt Ceiling
Debt Ceiling – Debacle or Done?
Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday, as the threat of an economic nightmare prompted Biden to cut short an Asia trip this week. After an hour of talks, McCarthy, the speaker of the House of Representatives, told reporters the two sides remained far apart on an agreement to lift the debt ceiling. However, he said, "It is possible to get a deal by the end of the week. It's not that difficult to get to an agreement."