President Joe Biden and House Speaker Kevin McCarthy met Monday to continue high-stakes negotiations over the government's debt ceiling.
In Japan over the weekend for the G7 summit in Hiroshima, President Biden said"It's time for Republicans to accept that there is no deal to be made solely, solely, on their partisan terms." The start-and-stop meetings have nonetheless shown that parties may be approaching a compromise deal. Republicans don't want 2024 spending to exceed 2023 levels. Democrats don't want to make additional cuts beyond a point that would keep year-to-year spending flat.
But McCarthy has said a deal will need to be done this week to have enough time to pass it in the House and move legislation to the Senate.
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