Biden-McCarthy meeting on debt ceiling tests divided Washington ruleBy Trevor Hunnicutt
Reuters
February 1, 2023
WASHINGTON (Reuters) -President Joe Biden and Republican House Speaker Kevin McCarthy meet on Wednesday to discuss the $31.4 trillion U.S. debt ceiling, a first test of how the two leaders will work together, or not, in a divided Washington.
The Democratic president and Republicans, who won control of the U.S. House of Representatives in November's elections, are locked in a standoff over raising the federal government's borrowing cap.
Failure to reach a deal by June could lead to a default that would shake the global economy.
Biden-McCarthy meeting on debt ceiling tests divided Washington rule