On Wednesday following a meeting with President Biden, Speaker Kevin McCarthy (R-Calif.) told reporters that he was optimistic that there would be an agreement reached between the White House and Congress that would help the country avoid defaulting on its debts. However, despite the optimism, neither side appears to have made any commitments right now.
McCarthy said that the hour-long conversation went well and that the two men had agreed to continue their discussions. He added that he believed there was an opportunity for the two sides to reach an agreement.
Despite his optimism, McCarthy did acknowledge that he and Biden viewed the debt ceiling differently, but refused to provide specifics into exactly what that meant.
White House officials have maintained that the debt ceilings should be raised without any conditions, but many Republicans have refused to agree with that perspective, instead noting that it was important for any increase in the debt ceiling to also be followed by cuts in government spending.
The Speaker also does not appear to be in favor of a potential compromise that has been floating around which would be Congress raising the debt ceiling in exchange for the establishment of a commission that would curb spending.
McCarthy in response to that said that a commission is not necessary and that it is clear that the government has been overspending.
The White House regarding the meeting between the two men said that Biden had been open to the idea of having a separate discussion with Congress in order to address possible ways of reducing the deficit.