Biden, McCarthy to meet Monday on debt ceiling 10 days before funding crunch

Rep. James Comer, R-Ky., joined 'Fox & Friends First' to discuss the latest on debt ceiling negotiations, additional U.S. aid to Ukraine and McCarthy's prediction that the FBI will hand over a file on the alleged Biden family 'criminal scheme.'for the third time this month in the hopes of finding some way forward on a debt ceiling agreement with President Biden.until the U.S. government is expected to run out of cash to pay its current obligations.

One of McCarthy’s top allies, House Financial Services Chair Patrick McHenry, R-N.C., told reporters outside the speaker’s office on Monday that talks had been productive but said there were still obstacles to overcome.When asked for an update on the talks on Sunday evening, McCarthy’s office pointed Fox News Digital to the speaker’s earlier exchange with reporters that struck a hopeful tone.

House Financial Services Chairman Patrick McHenry told reporters that Sunday night talks were productive.on raising the debt limit without preconditions. But Republicans are lining up behind the House-passed Limit, Save, Grow Act, which would increase the federal borrowing limit by $1.5 trillion while also slashing spending by roughly $150 billion from this year to the next.

Both sides have agreed that action is needed to reduce the deficit, but each has different ideas about how to do it – Republicans are looking to cut spending from today’s levels, while Democrats have called to increase tax revenue from the ultra-wealthy and large corporations.

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