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Reuters
Reuters
Business
By Trevor Hunnicutt and David Morgan

Biden White House, McCarthy dig in ahead of debt meeting

U.S. President Joe Biden speaks to the media after his arrival to the White House in Washington, U.S., January 30, 2023. REUTERS/Evelyn Hockstein

U.S. President Joe Biden and House Speaker Kevin McCarthy won't come to their first meeting over raising the debt ceiling with any specific proposals to stave off a possible default, both sides indicated on Tuesday.

The Wednesday meeting between Biden and McCarthy is likely to serve as the opening bell for months of back-and-forth maneuvering over raising the United States' $31.4 billion borrowing cap.

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