Biden, McCarthy to meet Monday for debt limit talks after productive call

House Speaker Kevin McCarthy said Sunday that he and President Joe Biden will meet on Monday in person to discuss raising the nation's debt limit. McCarthy, R-Calif., and Biden spoke by phone as the president was flying back from a trip to Japan. McCarthy said the call was productive. Talks to keep the federal government funded have been off-again, on-again for several days, and McCarthy indicated negotiations would resume later Sunday. Both sides have said progress was being made but that they remain far apart. The Treasury Department has said an agreement should be reached before funding runs dries early next month. President Joe Biden said Sunday that Republicans in the U.S. House must move off their "extreme positions" on the now-stalled talks over raising America's debt limit and that there would be no agreement to avert a catastrophic default only on their terms. In an effort to get negotiations back on track, Biden was set to call U.S. House Speaker Kevin McCarthy, R-Calif.

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