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Biden, McCarthy say U.S. won’t default as debt talks inch forward



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WASHINGTON — Top leaders from both sides of the aisle reassured Americans on Wednesday that the U.S. won’t default on its debt as tense negotiations over the debt ceiling continued.”I think at the end of the day we do not have a debt default,” House Speaker Kevin McCarthy told CNBC in a “Squawk Box” interview Wednesday morning.President Joe Biden echoed that sentiment later in remarks from the White House, “We’re going to come together because these is no alternative,” he said. “Every leader in the room understands the consequences of failure.”Biden spoke minutes before he departed Washington for a truncated visit to Asia, where he plans to attend the Group of Seven summit. He also said he would hold a news conference Sunday upon his return to share the latest on the negotiations.The House speaker’s and the president’s remarks were the latest signs that negotiations, which had been stalled for months, were now moving into a more serious and concrete phase, and potentially closer to a deal.Leaders are running out of time to raise the debt ceiling before a June 1 deadline when the government is set to run out of money. McCarthy met Tuesday with Biden at the White House alongside Vice President Kamala Harris and other top congressional leaders in an attempt to hammer out a deal before the president left for Japan.McCarthy refrained from saying Wednesday …

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