Biden, McCarthy Meeting Offers Hope of Deal on Debt Ceiling

President Joe Biden (R) sits next to House Speaker Kevin McCarthy (R-Calif.) during the National Prayer Breakfast at the Capitol in Washington on Feb. 2, 2023. Kevin Dietsch/Getty Images

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) will meet on May 22 for in-person talks on resolving the debt ceiling crisis.

Over the weekend, negotiations between representatives from each side stalled as both doubled down on their demands.