US President Joe Biden said on Saturday that talks are moving forward with Congress regarding raising the government debt ceiling in the United States, adding that more will be known about progress in the next two days.
“I think they’re moving forward, but it’s hard to tell,” Biden told reporters at Joint Base Andrews. We have not yet reached the heart of the crisis.”
“We will know more in the next couple of days,” he added.
Biden is scheduled to meet House Speaker Kevin McCarthy and other congressional leaders within days to resume negotiations.
A meeting scheduled for Friday was canceled to allow discussions to continue.
Reuters reported that Biden and McCarthy aides began discussing ways to reduce federal spending while talks were underway regarding raising the government’s debt ceiling of $31.4 trillion to avoid default.
The Treasury Department says its coffers could run out by June 1 unless lawmakers raise the debt ceiling.