Biden, McCarthy to Meet Over Debt Drama as Markets Grow Anxious
- Deadline to avoid default nearing, with both sides digging in
- White House opens door to ‘separate process’ on fiscal talks
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President Joe Biden will sit down with House Speaker Kevin McCarthy for their first meeting in three months as the two face pressure for a debt-ceiling deal before an unprecedented default wreaks damage on the US economy.
They will be joined at the 4 p.m. meeting in the Oval Office on Tuesday by House Democratic Leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Senate Republican Leader Mitch McConnell — but the ultimate responsibility to resolve the months-long standoff will ultimately fall on the president and speaker.