Debt ceiling talks derailed as Biden and McCarthy White House meeting postponed trends now Debt ceiling talks derailed again as Biden's crunch talk with Kevin McCarthy is POSTPONED as U.S. inches closer to catastrophic default on $31trillion debt By Emily Goodin, Senior U.S. Political Reporter and Geoff Earle, Deputy U.S. Political Editor For Dailymail.com Published: 21:34 BST, 11 May 2023 | Updated: 21:34 BST, 11 May 2023 Viewcomments The White House meeting between President Joe Biden, Speaker Kevin McCarthy and the other congressional leaders scheduled for Friday was postponed until next week as the U.S. rushes toward defaulting on its debt. The meeting will now take place next week as staff between the two sides continue to meet to try and hash out a deal that will raise the debt limit so the country can pay its debt. A source familiar with the matter said the talks between the two sides 'are progressing.' The United States is believed to hit its debt ceiling in the beginning of June. Speaker of the House Kevin McCarthy and President Joe Biden met Tuesday at the White House with other Congressional leaders On Tuesday, Biden hosted the four Congressional leaders - McCarthy, Senate Majority Leader Chuck Schumer, House Minority Leader Hakeem Jeffries and Senate Minority Leader Mitch McConnell - at the White House for a meeting, in which the little progress that was made came in the agreement that there would be another meeting. For months, the president has said he wanted Congress to pass a 'clean' debt ceiling bill. Instead, House Republicans passed a bill that included sweeping spending cuts. That bill is dead upon arrival in the Senate. Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility