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In February, Democratic President Joe Biden met with Republican Speaker of the House Kevin McCarthy to discuss the U.S. debt ceiling. McCarthy called it a “first good meeting,” while the White House said it was a “frank and straightforward dialogue,” according to Politico.
The debt ceiling is the limit set by Congress on how much the U.S. government can borrow. Since 1960, Congress has raised it 78 times — 49 times under GOP presidents. Failing to raise the ceiling could place the government in default of its debt payments.
On March 28, McCarthy called on Biden to arrange another meeting. House Republicans say they are poised to pass legislation to impose a debt ceiling limit unless Biden agrees to spending cuts and policy changes.
Biden has said he will not negotiate conditions for raising the debt ceiling, but is willing to discuss spending plans with Republicans once GOP party leaders release a budget proposal.
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