Under Pressure From Fellow Democrats, Biden Agrees To Meet With Republicans on Debt Limit
Treasury Secretary Yellen said Monday that the ‘best estimate’ is that the government ‘will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1.’
After weeks of refusing to sit down with congressional leaders to work on a debt ceiling compromise, President Biden agreed to meet with Speaker McCarthy and his fellow Republicans in order to avoid default before what is now possibly a June 1 deadline.
On Monday, Secretary Yellen wrote a letter to the speaker saying that the Department of the Treasury’s “best estimate” is that the government “will be unable to continue to satisfy all of the government’s obligations by early June, and potentially as early as June 1,” raising the stakes for the meeting even higher. Shortly thereafter, the president invited the “Big Four” — the Democratic and Republican leaders of both the House and Senate — to the White House for a meeting.
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