US Politics

Biden prepares to face down McCarthy as debt limit crisis nears

The stakes are higher than just politics — the White House could be on the line

President Joe Biden and House Speaker Kevin McCarthy. Picture: Getty

Joe Biden and Kevin McCarthy have arrived at a crucial moment in their debt ceiling fight — a meeting that risks cementing their stand-off rather than yielding a breakthrough in a crisis already unnerving markets.

The president will host the House Speaker and other congressional leaders at the White House on Tuesday, with McCarthy seeking spending cuts as a condition of suspending or raising the debt limit and Biden pushing to separate the issues and ...