President Joe Biden and House Speaker Kevin McCarthy are set to meet at the White House at a pivotal moment as Washington works to strike a budget compromise and raise the nation's borrowing limit in time to avert a devastating federal default.
The meeting Monday afternoon between the Democratic president and the new Republican speaker will be critical as they race to prevent a looming debt crisis. After a weekend of start-stop talks, both men appeared upbeat as they face a deadline, as soon as June 1, when the government could run out of cash to pay its bills.
