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President Joe Biden waves as he boards Marine One on the South Lawn of the White House in Washington, Friday, May 26, 2023, as he heads to Camp David for the weekend. (AP Photo/Susan Walsh)House Speaker Kevin McCarthy says Republican negotiators are “closer to an agreement” that would resolve the looming debt crisis, but there's no deal yet with President Joe Biden. McCarthy gathered top allies at the Capitol as negotiators push for a deal that would raise the nation’s borrowing limit and avoid a catastrophic default while also making spending cuts that House Republicans are demanding. McCarthy tells reporters that "we’ll get it when it gets right." Biden said on Friday evening before departing for Camp David that bargainers were “very close.” He's continuing to talk with his negotiating team multiple times a day, signing off on offers and counteroffers.
Originally published at Associated Press