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The Latest Breaking News from Kevin McCarthy

Yellen Says America May Not Pay Its Bills

The White House and House Speaker Kevin McCarthy still haven't reached an agreement on raising the debt ceiling, which threatens to trigger a US default.

The Street

Stocks mostly up before key US debt talks

London (AFP) - Stock markets mostly rose Monday ahead of key US debt talks between President Joe Biden and congressional leaders, with both sides still apart but confident a deal could be reached to avert a catastrophic default.

AFP

Stock Futures Flat; Biden-McCarthy Debt Meeting; EU Fines Meta; Ford Capital-Markets Day; Micron-China -- Five Things to Know

U.S. stock futures are flat as the president and House speaker are set to meet to solve the debt-limit dispute. Treasury Secretary Yellen affirms June 1 debt-ceiling deadline. EU privacy regulators fine Facebook's parent. Ford will outline its EV plans. And China says Micron chips pose a security risk.

The Street

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Debt ceiling talks enter make-or-break phase

With less than two weeks to go before a potential debt default.

Axios

Biden to resume in-person negotiations on lifting US debt ceiling

US President Joe Biden is meeting with Republican House Speaker Kevin McCarthy this Monday, resuming talks on raising the government's borrowing limit. Washington has until June 1 to reach a deal before the government runs out of money to pay its bills, which would send shockwaves through the US economy…

France 24

Biden and McCarthy say debt limit meeting was productive but it ends without a deal

The two leaders met in person Monday at the White House after a "productive" phone call on Sunday about the debt ceiling. The U.S. could run out of money to pay its bills as early as June 1.

WEKU

First Thing: US debt ceiling talks ‘productive’ as Biden and McCarthy to meet

Sunday night phone call between president and Republican House speaker reported to have struck a more positive tone. Plus, how solar farms took over the California desert

The Guardian - UK

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Markets rise ahead of US debt talks

Hong Kong (AFP) - Most markets rose Monday ahead of US debt talks between President Joe Biden and congressional leaders, with both sides still apart but also confident a deal can be reached to avert a catastrophic default.

AFP

Doyle McManus: Debt ceiling negotiations were hard when Biden was vice president. They're even harder now

For a brief moment last week, it was possible to imagine that President Joe Biden and House Speaker Kevin McCarthy had found a patch of common ground in their standoff over the federal debt ceiling.

Los Angeles Times

Markets advance ahead of US debt talks

AFP

The US could default on June 1 owing to gridlock over the debt limit; Biden vs Trump polls are close

The United States debt limit is a legislative limit on the overall debt the US government can incur. As the US keeps running budget deficits, the debt keeps increasing. Congress could deal with this permanently by either repealing the debt limit, or increasing it to a very large number.

The Conversation

Debt ceiling explained: Why it's a struggle in Washington and how the impasse could end

President Joe Biden and House Speaker Kevin McCarthy are to meet face to face on Monday after a weekend of on again, off again negotiations over raising the nation’s debt ceiling

The Independent UK

Biden, McCarthy to hold pivotal meeting on debt ceiling as time to resolve standoff grows short

President Joe Biden and House Speaker Kevin McCarthy have a pivotal meeting coming up on the impasse over the debt ceiling

The Independent UK

Biden, McCarthy to resume US debt talks with 10 days until deadline

Washington (AFP) - Anxiety grew in Washington Monday as President Joe Biden prepared to meet again with Republican House Speaker Kevin McCarthy for negotiations on raising the US debt ceiling, 10 days before a key deadline to avoid a disastrous default.

AFP

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AFP

Asian markets mixed ahead of US debt talks

Hong Kong (AFP) - Asian markets were mixed Monday ahead of US debt talks between President Joe Biden and congressional leaders, with both sides still apart but also confident a deal can be reached to avert a catastrophic default.

Chicago Sun-Times

5 takeaways on the looming debt ceiling deadline crisis

Illinois House Democrats are divided over whether President Biden should invoke the 14th Amendment to let the federal government borrow money over the debt limit. GOP pushing for work requirements for public benefits.

ABC News

ASX finishes lower as threat of US debt default sparks warnings of potential Wall St crash — as it happened

Australian shares finished lower after US debt ceiling talks failed to make progress in the absence of President Joe Biden. Look back on the day's events as they happened with our markets blog.

The Street

Yellen Sends Final Warning About America

The White House and House Speaker Kevin McCarthy still haven't reached an agreement on raising the debt ceiling, which threatens to trigger a US default.

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Roll Call

Biden, McCarthy will attempt to salvage debt limit deal - Roll Call

President Joe Biden and Speaker Kevin McCarthy meet Monday to discuss how to raise the debt limit after a weekend of talks by proxies.

The Street

Yellen Sends Final Warning to White House And Congress

The White House and House Speaker Kevin McCarthy still haven't reached an agreement on raising the debt ceiling, which threatens to trigger a US default.

Los Angeles Times

Biden wraps up G-7 summit with more aid for Ukraine, confusion on Bakhmut, optimism on China

HIROSHIMA, Japan — Wrapping up a summit of the world's wealthiest democracies here Sunday, President Joe Biden had domestic trouble on his mind — the flagging U.S. debt talks — but also addressed the administration's most pressing international concerns: Ukraine and China.

The Independent UK

Biden and McCarthy to resume talks Monday as debt ceiling deadline looms

United States expected to hit default deadline on 1 June

The Street

Yellen Warns the U.S. Is at the Cliff's Edge

The White House and House Speaker Kevin McCarthy still haven't reached an agreement on raising the debt ceiling, which threatens to trigger a US default.

Zenger

Larry Summers Warns About The Use Of The 14th Amendment For Government To Pay Its Bills

Former Treasury Secretary Larry Summers warned the possibility of increase in inflation over the next several years.

Tribune News Service

Biden, McCarthy to meet Monday, as staff debt-limit talks resume

Debt-limit negotiators resumed discussions in Washington ahead of a meeting on Monday between President Joe Biden and House Speaker Kevin McCarthy, as time grows short to avert a U.S. default.

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