Biden and McCarthy's Meeting on Debt Ceiling: A Race Against Time.

President Joe Biden and House Speaker Kevin McCarthy are set to meet at the White House to strike a budget compromise and raise the nation’s borrowing limit in time to avert a potentially chaotic federal default. Negotiators for the White House arrived Monday back at the Capitol for talks ahead of the afternoon meeting between the Democratic president and the new Republican speaker that will be critical as they race to prevent a looming debt crisis as soon as next week. McCarthy blamed Biden for having refused to engage earlier on annual federal spending, a separate issue but linked to the nation’s debt.