Biden speaks with Republican leader McCarthy: source

A source familiar with the talks said US President Joe Biden and Republican congressional leader Kevin McCarthy spoke Saturday as the leaders worked to iron out the last aspects of a debt deal to avoid economic disaster.

According to the source, Biden also met with the head of the Democratic minority in the House, Hakeem Jeffries, and the leader of the Democratic majority in the Senate, Chuck Schumer.

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The proposed agreement would resolve the months-long standoff between the Republican-controlled Congress and the Democratic-controlled White House. The deal’s specifics are unknown, but it is expected to postpone the federal government’s $31.4 trillion debt ceiling for two years while also reducing government expenditure.

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