The meeting was "productive" but "we don't have an agreement yet." This was stated by the Speaker of the House, Kevin McCarthy at the end of the face-to-face with Joe Biden on the increase in the debt ceiling to avoid default. "The problem is spending, it's not revenue," he adds, answering "no" to those who asked him if Americans should prepare for a U.S. default. "I think we can reach an agreement" on the debt ceiling. Cuts to defense, he notes, are not on the table: it would be a mistake - he highlights - to cut defense spending".
McCarthy said shortly before seeing Biden that an agreement was needed in the next 24 to 48 hours to give Congress time to vote on it.
McCarthy, good meeting with Biden but still no deal
2023-05-22T23:59:10.305Z
Highlights: The meeting was "productive" but "we don't have an agreement yet," says Kevin McCarthy. "The problem is spending, it's not revenue," he adds. Cuts to defense, he notes, are not on the table: it would be a mistake - he highlights - to cut defense spending. McCarthy said shortly before seeing Biden that an agreement was needed in the next 24 to 48 hours to give Congress time to vote on it. "I think we can reach an agreement" on the debt ceiling.
The meeting was "productive" but "we don't have an agreement yet." This was stated by the Speaker of the House, Kevin McCarthy at the end of the face-to-face with Joe Biden on the increase in the debt ceiling to avoid default. (ANSA)