Biden's debt limit statement: Breaking point not reached

U.S. President Joe Biden said talks on the debt limit were continuing but had not yet reached a critical point. U.S. President Joe Biden said talks with Congress on raising the U.S. government’s debt limit were continuing and that more information would be learned about the process in the next two days. Speaking to reporters at Joint Base Andrews, Biden said, “I think progress is being made. But we’re not at the breaking point yet. We’ll know more in the next two days.” Biden is expected to meet with House Speaker Kevin McCarthy and other congressional leaders early next week to continue negotiations. The leaders canceled a meeting scheduled for Friday to allow the delegations to continue talks. Aides to Biden and McCarthy have begun discussing ways to limit federal spending as talks to raise the government’s $31.4 trillion debt ceiling progress. The Treasury Department has stated that federal resources could run out by June 1 if representatives do not raise the country’s debt ceiling.