Biden Holds Meeting with Congressional Leaders on Debt Ceiling Warning.

President Biden has invited the top four congressional leaders to a meeting on May 9 to discuss how to avert a debt default, which Treasury Secretary Janet Yellen warned could happen by June 1 if Congress doesn't act in time. House Republicans insist on attaching spending cuts to a debt ceiling increase, while Democrats vow not to negotiate over whether to pay the country's bills or default. Biden will "stress" to congressional leaders that they "must take action to avoid default without conditions," saying the meeting was scheduled to discuss "the urgency of preventing default," as well as how to begin negotiating a budget.