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Chicago Sun-Times
Chicago Sun-Times
National
Lynn Sweet

5 takeaways on the looming debt ceiling deadline crisis

Joe Biden Republican Party Kevin McCarthy Illinois MAGA Ill Medicaid
President Joe Biden speaks during a news conference following the Group of Seven leaders summit on May 21, 2023, in Hiroshima, Japan. President Biden called Republican demands for sharp spending cuts unacceptable. (Kiyoshi Ota-Pool/Getty Images)

WASHINGTON — Standing side by side on the default cliff, President Joe Biden and House Speaker Kevin McCarthy on Sunday agreed only to meet on Monday as a global economic crisis looms if no deal is made.

Top staffers continued debt ceiling negotiations while Biden was in Japan for the Group of 7 summit, but no progress was made.

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