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Search resuls for: "David Morgan Jeff Mason Trevor Hunnicutt"


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☆ Biden and McCarthy to meet on Monday as debt ceiling talks resume
  + stars: | 2023-05-21 | by ( David Morgan Jeff Mason Trevor Hunnicutt | David Morgan | Jeff Mason | ) www.reuters.com   time to read: +5 min
HIROSHIMA, Japan, May 21 (Reuters) - U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt ceiling on Monday, after a "productive" phone call as the president headed back to Washington, the two sides said on Sunday. Staff members from both sides will reconvene for talks at 6 p.m. (1800 GMT) on Sunday. A failure to lift the debt ceiling by that date would trigger a default that would cause chaos in financial markets and spike interest rates. SPENDING CUTSMcCarthy said Republicans backed an increase in the defense budget while cutting overall spending, and that debt ceiling talks have not included discussions about tax cuts passed under former President Donald Trump. McCarthy has said he will give House lawmakers 72 hours to review an agreement before bringing it up for a vote.
☆ Biden and McCarthy to meet on Monday as debt talks resume
  + stars: | 2023-05-21 | by ( David Morgan Jeff Mason Trevor Hunnicutt | David Morgan | Jeff Mason | ) www.reuters.com   time to read: +5 min
HIROSHIMA, Japan, May 21 (Reuters) - U.S. President Joe Biden and House Republican Speaker Kevin McCarthy will meet to discuss the debt limit on Monday after a "productive" phone call as the president headed back to Washington, the top House Republican leader said on Sunday. McCarthy, speaking to reporters following the call, said there were positive discussions on solving the crisis and that staff-level talks were set to resume later on Sunday. "Much of what they've already proposed is simply, quite frankly, unacceptable," Biden said before heading back to Washington. Kenny Holston/Pool via REUTERSA source familiar with the negotiations said Republicans had proposed an increase in defense spending, while cutting overall spending. The source said the Biden administration had proposed keeping non-defense discretionary spending flat for the next year.
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