Finally! Biden And Mccarthy Set To Meet On Debt Ceiling Crisis

President Joe Biden has reportedly called House Speaker Kevin McCarthy to invite him to a May 9 White House meeting and has also summoned four top congressional leaders next week after the Treasury sounded out that the government could run short of cash to pay its bills by June.

What Happened: Biden also extended invitations to House Democratic leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Republican leader Mitch McConnell, according to a Reuters report.

McConnell said he and Biden had a “good conversation” and added, "I’m sure we’ll be speaking again."

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On Monday, Treasury Secretary Janet Yellen called on Congress to raise the debt limit, to ensure the government is able to pay the bills come June 1.

"Our best estimate is that we will be unable to continue to satisfy all of the government's obligations by early June," Yellen said in her statement.

“It is impossible to predict with certainty the exact date when Treasury will be unable to pay the government’s bills,” she added, according to a Reuters report.

White House Take: A White House official told Reuters that Biden, who had earlier said he wouldn’t meet McCarthy at all to discuss the debt limit, would “stress that Congress must take action to avoid default without conditions.”

White House Press Secretary Karine Jean-Pierre, however, stated during a press briefing that the president said he's happy to meet with McCarthy but not on whether or not the debt limit gets extended.

"That's not negotiable. We're — continue to — to be very firm about that, to be very clear. The President, again, said this himself," she said.

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