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Another Debt Ceiling Meeting On Friday

US

There have been talks in the US to resolve the debt ceiling impasse and apparently they have ended for the day without any progress made, according to Reuters. Another meeting to try and find a compromise is scheduled for Friday, while staff will meet during the week.

  • The $31.4tn US debt ceiling needs to be raised before June 1, otherwise the government won’t be able to pay its bills and may default on some debts.
  • Talks on Tuesday were between President Biden and House of Reps speaker McCarthy, the first since February 1. Apparently neither side was prepared to budge. McCarthy told the press “I didn’t see any new movement”.
  • Republicans are holding firm that for the debt ceiling to increase there needs to be a cut in spending. Whereas Biden wants it lifted without any conditions.
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