"We will know more in the next two days," says the president, who says that "there is a real discussion" about assignments of all to avoid default. June 1 is the first risk date set by Treasury Secretary Janet Yellen for the federal government to run out of money and be unable to meet its obligations.
Republicans have passed a bill in the House of Representatives that would allow the debt ceiling to be temporarily raised in exchange for spending cuts and for Biden to give up some of the achievements of the first half of his term.