With Secretary of the Treasury Janet Yellen stating that the United States could reach the debt ceiling by early June, much earlier than expected, President Joe Biden has invited the top four Congressional leaders to a White House meeting next week to find a way to avoid a financial crisis, NBC News reports.
The sticking point in the negotiation will be House Speaker pro tem Kevin McCarthy’s deal with the Devil, personified by the likes of Matt Gaetz, Lauren Boebert and a handful of other nihilists who want the nation to default on its debt to spark a collapse of the social safety net programs wealthy conservatives hate, but poor conservatives depend on.
Biden will host McCarthy, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell and House Minority Leader Hakeem Jeffries to a meeting next Tuesday. Democrats have stated they want a “clean” bill dealing with the debt ceiling, something McConnell would likely support. McCarthy, however, has to deal with the threat of a floor vote to remove him from the speakership if he doesn’t kowtow to extremists in his Party.