Pair meet in person after ‘productive’ phone call on Sunday but Democrats warn Republican demands are not acceptableJoe Biden met Kevin McCarthy on Monday as the White House sought to stave off a US debt default, a potentially catastrophic event the treasury secretary, Janet Yellen, has said will happen on or around 1 June if no deal to raise the $31.4tn debt ceiling is reached.If the debt limit is not raised, the US government will default on its bills: a historic first likely to have catastrophic consequences. Federal workers would be furloughed, global stock markets would be likely to crash and the US economy would probably drop into recession. Continue reading...
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