Debt Ceiling Negotiations Reach Critical Point with Biden and Lawmakers

President Biden and congressional leaders are engaging in talks to find a politically acceptable way to raise the nation's borrowing limit in the coming weeks, as officials grapple with the prospect of the first-ever U.S. default as soon as June 1. This marks the first direct contact in months between Biden and House Speaker Kevin McCarthy (R., Calif.) as they attempt to break the impasse on the debt ceiling negotiations.