Biden and McCarthy meet to discuss debt ceiling deal.

President Biden and House Speaker McCarthy to Meet In-Person to Resolve Debt Ceiling Crisis

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) are set to meet on May 22 to discuss the debt ceiling deal.”>ongoing debt ceiling crisis. Negotiations between both sides stalled over the weekend as they remained firm on their demands.

Republicans Accuse Biden’s Negotiators of Being “Unreasonable”

Representative Garret Graves (R-La.), the lead negotiator for Republicans, accused Biden’s negotiators of being “unreasonable” on May 19. Biden responded on May 21, stating that it was time for the other side to move from their extreme positions. The two men spoke by phone later that day and agreed to meet in-person the next day.

Limit, Save, Grow Act at the Center of the Issue

The Limit, Save, Grow Act, which Republicans passed on April 26, is at the center of the issue. The measure would reduce discretionary spending to the 2022 level, increase work requirements for some beneficiaries of Medicaid and the Supplemental Nutrition Assistance Program (SNAP), loosen permitting requirements for oil and gas drilling, and increase the debt ceiling through March 2024. Democrats have criticized the proposal as an effort to balance the federal budget on the backs of the working class while preserving Trump-era tax cuts for the wealthiest Americans.

Following their phone call, McCarthy told reporters that the call was “productive” and that he believes they can solve the problems. Biden also expressed optimism, stating that he thinks they can reach an agreement.

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