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The Latest Breaking News from Kevin McCarthy

Goldman Sachs estimates Janet Yellen has two more weeks before running out of cash

The U.S. government's cash reserves are dwindling, and soon the Treasury will have to flood the market with over half a trillion dollars in new IOUs.

Fortune

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

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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

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

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

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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

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.

Chicago Sun-Times

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.

ABC News

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.

Roll Call

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.

Los Angeles Times

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

United States expected to hit default deadline on 1 June

The Independent UK

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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.

Salon

No deal on debt ceiling hike

"DOJ can and SHOULD admit that the plaintiff is right," one political observer said of NAGE's case

Newsroom.co.nz

Reserve Bank faces new inflation headwinds as immigration surges

This week's interest rates decision will be a tough one that may yet disappoint mortgaged homeowners and turn NZ back down the path to recession, writes Andrew Patterson.

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WEKU

Biden and McCarthy set to meet again Monday for debt ceiling talks

House Speaker Kevin McCarthy told reporters he had a "productive" phone call with President Biden as he travels back to Washington. Negotiators for the pair will resume talks Sunday evening.

Axios

Biden and McCarthy to meet Monday for debt ceiling talks

Biden said a phone call with McCarthy today "went well."

Axios

GOP turned down White House offer to freeze spending

The White House called the McCarthy's counter-offer a "a big step back."

Tribune News Service

Biden seeks to call McCarthy after debt-limit talks hit impasse

WASHINGTON — President Joe Biden directed his aides to schedule a call on Sunday with House Speaker Kevin McCarthy, after the top Republican accused the White House of backtracking in talks on raising the U.S. debt limit.

Tribune News Service

US debt limit meetings on hold, McCarthy says talks are ‘so-so’

U.S. debt limit negotiators aren’t planning to meet on Saturday, according to people with knowledge of the matter, as the White House accused Republicans of being unwilling to negotiate.

Zenger

Oil Prices On The Bring Of Surging As Debt Default Looms

Debt ceiling talks between the White House and Congress as the stock market plunges and the oil prices increases.

Tribune News Service

US debt limit meetings pause, McCarthy says talks going ‘so-so’

U.S. debt limit negotiators aren’t planning to meet on Saturday, according to people with knowledge of the matter, as the White House accused Republicans of being unwilling to negotiate.

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