McCarthy offered the assurance another way, reiterating that House Republicans passed a plan to raise the debt ceiling through March if they can get Biden and Democrats to curb federal spending over the next decade. “Everyone in the meeting understood the risk of default,” he said. He described the discussion as productive and said he and congressional leaders would meet again Friday. “We need to take the threat of default off the table,” Biden stressed to reporters after the discussion with lawmakers. “ The United States of America is not going to default,” McConnell told reporters after the meeting with the president, Senate Majority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.). payments that are now due, or even the concerns globally that the full faith and credit of the United States may be a mirage. The GOP leaders said they are clear-eyed about the potential economic pain and political damage from failing to make U.S. 1 after repeated requests by the Speaker.

The president last met with McCarthy at the White House on Feb. Republicans believe they have painted Biden into a corner for refusing to begin discussions until this week when the default date could be as soon as June 1, as gauged by the Treasury Department. The monthslong stalemate continues, as anticipated, which unnerves many in Washington and on Wall Street, but McCarthy and Senate Minority Leader Mitch McConnell (R-Ky.) offered hints about what comes next.

Witch at the Door by Holly Warriner