Biden, McCarthy to meet Monday for debt ceiling talks as default deadline looms


President Biden and House speaker Kevin McCarthy are due to speak face to face. After a telephone conversation on how to reach an agreement on averting a U.S. default. House speaker Kevin McCarthy says he did have a productive call with President Biden. They spoke as the president was returning from the G 7 summit in Japan, where he had to reassure world leaders. Default is not an option. Biden says, despite GOP complaints, he has compromised and introduced ideas to raise revenue. Much of what they've already proposed is simply quite frankly unacceptable. But conservative Republicans, like congressman Jody arrington, who spoke on ABC's this week with George Stephanopoulos, says the government spending patterns need to change. We have to get back to pre COVID pre inflationary spending. We've got to rightsize and rein in this bureaucratic bloat. Treasury secretary Janet Yellen says it looks like the debt limit will be reached somewhere around June 1st, where the U.S. won't have the funds to meet its obligations. Seniors who count on social security are military that expects pay. She spoke on NBC's meet the press. I'm Jackie Quinn

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