"Unfortunately the president doesn't think it's important," McCarthy said when asked about how talks on the debt ceiling were going. The government faces a historic default on its debts without legislation to raise the $31.4 trillion debt limit. Biden and leading Democrats in Congress have urged McCarthy to unveil Republicans' plans for cutting spending, saying that additional meetings before that happens would be fruitless. Senate Majority Leader Chuck Schumer told reporters on Thursday that Democrats welcome budget talks anytime. Meantime, Republicans want Democrats to signal support for significant spending cuts before providing the votes needed in Congress to increase the Treasury Department's borrowing authority.

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