WASHINGTON (Reuters) – Negotiations with Congress to raise the U.S. government’s debt ceiling are making progress, President Joe Biden said on Saturday, and there will be more news on their progress in the next two days.
“I think they’re moving forward, it’s hard to say. We’re not at a critical point yet,” Biden told reporters at Joint Base Andrews.
“We’ll learn more over the next two days,” he said.
Biden is expected to meet Republican House Speaker Kevin McCarthy and other congressional leaders early next week to resume talks. A meeting scheduled for Friday was canceled to allow staff to continue discussions.
Biden and McCarthy aides have begun discussions on how to limit federal spending dollars31.$4 trillion debt ceiling, to avoid a catastrophic contagion of defaults, Reuters reported.
The Treasury Department said it could run out of money by June 1 unless lawmakers raise the nation’s debt ceiling.