Biden and congressional leaders strike up progress in latest debt-ceiling meeting

Washington D.C. (NBC / KYMA, KECY-TV) - Discussions on the crucial debt ceiling, stir up optimism as President Biden and House Speaker, Kevin McCarthy appear to make progress in today's White House meeting. Budget negotiations are still in the works on resolving the looming U.S. default crisis. A pivotal meeting with a June 1st deadline, is the make or break according to the Treasury Department.

Republicans pressed raising the debt limit will put the U.S. into further national deficit and urge balancing the budget, is the pathway to leveling the U.S. economy. while Democratic Senate Majority leader, Chuck Schumer says, "Default is a disaster, full stop and everyone understood that in the room. "We'll have to come together on something that can avoid default."

Economists predict a default will tank the stock market and spike unemployment. Failure to raise the debt ceiling, will create a catastrophic impact on the economy. Americans seek financial stability that will move them out of high interest rates, spiked inflation and provide tax relief. The pressure is on with just over two weeks to reach a bi-partisan deal on the debt ceiling.