Pres. Biden and congressional leaders will meet to discuss the debt ceiling as Treasury Secretary Yellen stressed a default could trigger a recession.
and congressional leaders will meet Tuesday afternoon to discuss the debt ceiling as Treasury Secretary Janet Yellen stressed a default could trigger a recession.
"It's essential Congress act as soon as possible," she said as she delivered remarks in downtown Washington, stating they're already seeing "the impacts of brinkmanship" and "default would generate an economic catastrophe." McCarthy on Tuesday appeared to criticize Biden's schedule, telling ABC he believes "the American public wants to have an American president focused on American problems and solutions."Biden said last week skipping the G-7 summit is "possible but not likely" based on debt ceiling negotiations.
Biden and Democrats have insisted Republicans take default off the table, and separate the debt ceiling from the 2024 budget. Republicans, on the other hand, have said they've done their job by passing the Limit, Save, Grow Act last month to raise the debt ceiling and enact deep spending cuts.
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