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  • Los Angeles Times

    Kevin McCarthy, facing his biggest test yet, sees no ‘movement’ on debt limit deal

    by Courtney Subramanian, Los Angeles Times May 09, 2023 6 minutes
    U.S. President Joe Biden, left, and Speaker of the House Kevin McCarthy, R- Calif., depart the U.S. Capitol following the Friends of Ireland Luncheon on Saint Patrick's Day March 17, 2023, in Washington, D.C..

    WASHINGTON — The last time House Speaker Kevin McCarthy sat down with President Joe Biden in the Oval Office, he struck a firm but hopeful tone, telling reporters that the pair could “find common ground” to avert a calamitous default on U.S. debt.

    Ninety-seven days later, as McCarthy met with the president Tuesday for only the second time since becoming speaker, the two sides were no closer to a compromise — paving a perilous path toward a historic default that could crash the stock market, lead to millions of job losses and send the country into a deep recession.

    “Everybody in this meeting reiterated the positions they were at,” McCarthy (R-Bakersfield) said after meeting with Biden and House Democratic leader Hakeem Jeffries, Senate Majority Leader Charles E. Schumer and Minority Leader Mitch McConnell. “I didn’t see any new movement.”

    House Republicans have threatened to allow the U.S. to default on its debts unless raising the spending

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