President Biden Calls for Debt Ceiling Increase without Conditions - As the US
Treasury warns that it may run out of cash to pay its bills as early as June 1,
without congressional action to raise the debt ceiling, President Biden has
called for an increase in the ceiling.
Biden invited the top four congressional leaders, including Republican leader
McCarthy, to the White House next week to discuss the issue, raising political
tension and urgency in Washington. This new potential "X-date" threatens to
result in a precedent-setting default, as
Congress argues over spending cuts and budget measures. |