Deal or default? Biden, GOP must decide what’s on the table

WASHINGTON (AP) — Before President Joe Biden and congressional leaders can even try to avert an unprecedented U.S. government default, their initial challenge on Tuesday (May 9, 2023) will be to agree on what exactly they’re talking about as they hold their first substantive meeting in months. With the government at risk of being unable to meet its obligations as soon as June 1, Republicans are hoping to negotiate sweeping cuts to federal spending in exchange for allowing new borrowing to avoid default. Biden is set to reinforce his opposition to allowing the country’s full faith and credit to be held “hostage” to negotiations. Expectations for a breakthrough are low.