Biden-McCarthy meeting yields no results

House Speaker Kevin McCarthy said he had “productive” and “professional” talks with President Joe Biden on how to raise the debt ceiling, but the two failed to reach an agreement Monday. “I think the atmosphere tonight was better than any other night we’ve had discussions,” McCarthy said outside the West Wing after the hour-long meeting. The meeting also helped the negotiating teams. “He gave us a little bit more of the details that we need on the negotiating team to get to a package that can pass Congress,” said GOP Rep. Patrick McHenry, who negotiated on McCarthy’s behalf. Both sides continued to emphasize the need for a deal above politics to avoid a default. McCarthy said in a statement after his more than hour-long meeting with Biden that negotiators would continue working through the night to try to find common ground. He also said he did not want to think that President Biden planned to eliminate the budget deficit by raising taxes on the wealthy. McCarthy also said it was “still possible” for Congress to pass legislation by next week. McCarthy shared Biden’s cautious optimism. “I think at the end of the day we can find common ground, strengthen our economy, pay down this debt, but more importantly get this government back on track to bring down inflation, reduce our dependence on China, and make our appropriations work,” he said.