Biden, McCarthy to meet on debt ceiling, time to ‘get moving’ to resolve standoff

By LISA MASCARO, STEPHEN GROVES and ZEKE MILLER
Associated Press

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy have a pivotal meeting coming up on the impasse over the government’s debt ceiling. Washington is racing to strike a budget compromise and raise the nation’s borrowing limit in time to avert a potentially devastating federal default as soon as next week. McCarthy told reporters Monday it’s time to “get moving” toward a deal. The negotiating teams wrapped up three hours of morning talks at the Capitol. After a weekend of start-stop talks, both Biden and McCarthy appeared upbeat as they face a deadline, as soon as June 1, when the government could run out of cash to pay its bills.