There’s no conclusion yet to the national debt-ceiling drama. President Joe Biden and Republican House Speaker Kevin McCarthy met again Tuesday to try to resolve the impasse. McCarthy reportedly told Republicans in a closed-door meeting that the two sides are “nowhere near a deal” yet, but both McCarthy and the president said the discussions were “productive.”
If a bipartisan deal is not brokered, the U.S. is in danger of defaulting on its debt by June 1. A default would impact millions of Americans and cause economic chaos including in New Jersey, where lawmakers are in the final weeks of state budget negotiations and the debt-ceiling crisis is starting to play a larger role than expected.
