U.S. President Joe Biden's closely watched meeting with congressional leaders on the debt ceiling that was scheduled for Friday has been postponed until next week, creating uncertainty over his attendance at the Group of Seven summit in Japan.
The standoff between Biden and congressional Republicans, who control the House of Representatives, has intensified before the three-day summit in Hiroshima starting May 19. A White House spokesperson said staff will continue working and had agreed to meet "early next week."
House Speaker Kevin McCarthy stepped up criticism of Biden on Thursday, saying the president had not presented plans for months on averting an unprecedented government default.
"Apparently, President Biden doesn't want a deal, he wants a default," McCarthy told reporters on Capitol Hill.
Biden said Wednesday that "depending on the state of play in the negotiations" he could participate in the G-7 summit "virtually."
The meeting between Biden, McCarthy and three other congressional leaders on Friday was to follow up on their discussions at the White House earlier in the week, when they made no progress.
McCarthy said the postponement was decided as further coordination was required before they could sit down together.
U.S. Treasury Secretary Janet Yellen warned last week that the government could run out of money as early as June 1 if Congress does not act "as soon as possible" to raise or suspend the $31.4 trillion limit.
The ceiling is the maximum amount of money that the government can legally borrow to cover its spending. Biden has been asking Republicans to raise the $31.4 trillion debt cap without conditions, claiming that the U.S. economy is robust and there is no doubt about the country's ability to pay its bills.
But Republicans have said additional borrowing will not be authorized without an agreement to slash future spending.
