“President Joe Biden sought Monday to ease a debt limit standoff by inviting the four Congressional leaders to the White House on May 9 — signaling the growing fears of a default as the federal government might be unable to pay its bills as soon as June 1…
“Biden and House Speaker Kevin McCarthy, R-Calif., are at an impasse on lifting the government’s borrowing authority. The president has called for a clean increase to the $31.4 trillion cap, while McCarthy and GOP lawmakers are demanding spending cuts in return and passed a bill with $4.8 trillion in deficit savings over 10 years last week.” AP News
Here’s our prior coverage of the debt ceiling. The Flip Side
The left urges House Republicans to increase the debt limit without concessions, and notes that Republicans had no problem increasing the deficit during the Trump administration.