President Joe Biden says he'll continue to have talks with House Speaker Kevin McCarthy on raising the debt ceiling as the default deadline quickly approaches.
RELATED: Debt ceiling negotiations could have far-reaching impacts beyond its resolution
An Oval Office meeting Tuesday afternoon between President Joe Biden and top congressional leaders failed to produce a breakthrough in the standoff over raising the debt ceiling as the U.S. lumbers toward a potential default by the end of the month.
"I didn’t see any new movement,” Republican House Speaker Kevin McCarthy said after a one-hour meeting that saw the president and congressional leaders of both parties dig further into positions they've held for months.
The U.S. faces a June 1 deadline to raise the debt ceiling to avoid a government default and a potential economic crisis.
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