President Joe Biden and Speaker Kevin McCarthy plan to meet Monday afternoon to discuss how to raise the debt limit after a weekend of negotiations by proxies left each side accusing the other of throwing up new roadblocks to a deal.
With only 10 days to spare before the government may be unable to pay all its bills, the two top negotiators will try to reset the table for a compromise that both sides claim to want but which has eluded them for months.
McCarthy, who spoke with Biden by phone Sunday on the president’s return from a meeting of the world’s leading democracies in Japan, accused Biden of backtracking from a pledge not to include tax increases in a debt limit package.
