Biden to meet with congressional leadership as threat of national debt default looms

President Joe Biden is set to meet with congressional leadership on Tuesday amid a stalemate in Washington to raise the debt ceiling and avoid a default that would have catastrophic economic consequences.

A path forward to raising the debt ceiling remains unclear. House Republicans want to attach spending reductions to a debt ceiling increase and have passed a debt limit plan that does just that. But Biden and congressional Democrats are insisting on passing a clean increase on the debt limit before addressing a framework for spending.