Debt ceiling: McCarthy says 'no progress' ahead of talks Tuesday with Biden
House Speaker Kevin McCarthy says there’s been “no progress” on debt ceiling talks WASHINGTON -- House Speaker Kevin McCarthy said Monday there's been “no progress ” on debt ceiling talks ahead of a meeting with President Joe Biden on Tuesday at the White House, as the country pushes closer to a crisis over the need to raise its legal borrowing limit. Compounding pressure on Washington to strike a deal, the Treasury Department on Monday left unchanged a deadline as soon as June 1 when the nation will have exhausted its ability to cover its debt payments, though Secretary Janet Yellen also suggested the so-called “X-date” could move days or weeks later than the estimate. “It's very concerning to me,” McCarthy, the Republican speaker, told reporters as he opened the House chamber. “There’s no progress that I see,” he said of the staff-level talks that extended through the weekend. “And it really concerns me with the timeline of where we are.” Time is narrowing as Biden prepar...