Debt Ceiling

President Joe Biden and House Speaker Kevin McCarthy, R-Calif., say they have reached a deal in principal to raise the debt ceiling.

An “agreement in principle” between President Joe Biden and House Speaker Kevin McCarthy would raise the nation’s legal debt ceiling, but now Congress has only days to approve a package that includes spending cuts and would avert a potentially disastrous U.S. default. The compromise announced late Saturday risks angering both Democratic and Republican lawmakers as they begin to unpack the...

President Joe Biden and Speaker Kevin McCarthy have reached an agreement in principle on legislation to increase the nation’s debt ceiling and avoid default. Here’s a look at what’s in and out of the deal.

President Joe Biden and House Speaker Kevin McCarthy reached the agreement after the two spoke Saturday evening by phone.

President Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” to resolve the looming debt crisis. McCarthy outlined the proposed deal Saturday night. Biden and McCarthy spoke by phone earlier in the evening as they raced to prevent a catastrophic debt default. With the outline of an agreement, a legislative package can be drafted in time...

In remarks at the White House, Biden said, “It’s about competing versions of America.” Yet both men expressed optimism that the gulf between their positions could be bridged.

House Republicans say raising the debt ceiling to avoid default is the only concession they will make. In return, they want a laundry list of GOP priorities.

Congress faces a June 1 deadline to raise or suspend the debt ceiling in order to avoid a catastrophic default.

“We don’t have an agreement yet, but I did feel the discussion was productive in areas we had differences in opinion,” said McCarthy after meeting with Biden on Debt Ceiling Monday.

Republicans are insisting on spending cuts in exchange for raising the debt limit; Biden has come to the negotiating table after balking for months but says the GOP lawmakers will have to back off their “extreme positions.”

President Biden and Speaker Kevin McCarthy will meet face to face Monday to try to find a way to keep the country from defaulting on its bills. NBCs Brie Jackson Reports.

House Speaker Kevin McCarthy said he had a productive debt ceiling discussion with President Joe Biden late Monday at the White House, but no agreement yet as Washington strains to strike a budget compromise and raise the nation’s borrowing limit in time to avert a potentially chaotic federal default.

Another round of debt talks has wrapped up at the U.S. Capitol. White House and House Republican staff met for 2 1/2 hours Sunday evening. President Joe Biden and House Speaker Kevin McCarthy plan to meet Monday in search of a deal to avert an economy-wrecking federal default. They are upbeat about a possible debt ceiling compromise as Washington races...

Biden and McCarthy to meet at the White House on Monday to try and avoid looming debt default.

The president on Saturday was also squeezing in meetings aimed at challenging China’s buildout across the Indo-Pacific, including with the so-called Quad partnership made up of the U.S., Australia, Japan and India.

“I just believe where we were a week ago and where we are today is a much better place,” said McCarthy, sounding more optimistic than ever about a deal.

President Biden delivered remarks Wednesday on negotiations to prevent a first-ever government default.

President Joe Biden said he’s confident a deal to raise the country’s legal borrowing limit will be struck with Republicans in Congress as the U.S. government pushes closer to defaulting for the first time. “America is a not a deadbeat nation, we pay our bills,” Biden said Wednesday before heading for an overseas trip to attend the Group of...

Tuesday’s meeting was pivotal as negotiators are staring down a June 1 deadline, which is when the Treasury Department says the U.S. could begin defaulting on its debts for the first time in history.

The president remained hopeful that an agreement could be reached to avoid what would be an unprecedented debt default, which could trigger a financial catastrophe.