After Tuesday’s debt ceiling summit at the White House, President Biden said the meeting was “productive.” He said, “I made it clear during our meeting that default is not an option. I told congressional leaders that I’m prepared to begin a separate discussion about my budget, spending priorities, but not under the threat of default.” House Speaker McCarthy said, “Everybody in this meeting reiterated the positions they were at. I didn’t see any new movement.” The White House has rejected the GOP proposal and accused House Republicans of “manufacturing a crisis,” however, the president is open to a short-term extension of the debt ceiling. He said, “One thing that I’m ruling out is default,” adding that he won’t approve massive spending cuts. A second summit to continue deliberations is scheduled for Friday.
