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McCarthy: We Are Nowhere Near A Debt Ceiling Deal

US

Wires carrying comments from House Speaker Kevin McCarthy (R-CA) stating that "talks are nowhere near" getting to a debt ceiling deal by this weekend.

  • McCarthy added that there has been "no movement" in debt ceiling talks, puncturing optimism today that negotiators working on behalf of McCarthy, President Biden, and Senate leaders were making progress in preparatory talks.
  • McCarthy also said he is not confident of a deal "based upon what [Democrats] are offering right now," understood to include energy permitting reform, some stricter work requirements for social entitlement programmes, and a two-year budget cap, but well short of the drastic spending cuts called for by House Republicans in their debt limit bill.
  • President Biden has spent the day in Philadelphia, Pennsylvania attending personal events and is set to depart on Wednesday for a week-long trip to Japan, Papua New Guinea, and Australia. A trip which was confirmed as on by the White House today.
  • Biden also confirmed earlier this afternoon, in response to a shouted question from the press pack, that he will meet McCarthy tomorrow but the window for negotiations are tight.
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