Congressional leaders emerged from a meeting with President Biden Tuesday saying they were unable to reach a breakthrough on raising the nation’s borrowing limit, despite a default deadline looming in three weeks.
House Speaker Kevin McCarthy told reporters at the White House there was no progress in resolving the debt impasse between Mr. Biden and the GOP.
“Everyone reiterated the positions they were at,” said Mr. McCarthy, California Republican. “I didn’t see any new movement.”
But the two sides are entering budget negotiations, despite the White House officially remaining opposed to slashing spending in exchange for raising the debt ceiling. Both sides also said they would meet again on Friday, and their respective staffs would start talking about government spending.
Senate Majority Leader Charles E. Schumer said those negotiations would be separate from raising the debt limit.
“The president asked all four of the leaders and himself to start sitting down as early as tonight … to see where we can come to an agreement on the budget and the appropriations process,” said Mr. Schumer, New York Democrat. “There are probably some places we can agree, in some places we can compromise hopefully.”
