Biden and McCarthy to resume talks Monday as debt default deadline looms

House Speaker Kevin McCarthy and President Biden will meet Monday to resume talks on how to avoid a catastrophic debt default as the June 1 deadline looms. 

McCarthy said Sunday that he had a "productive" call with Mr. Biden as the president returns from the G-7 conference in Japan. McCarthy told reporters that ahead of Monday's meeting with Mr. Biden, he hopes the negotiating teams on Sunday can "walk through" their exact positions so they can accordingly explain them to Mr. Biden.

Earlier Sunday, Mr. Biden said at the G-7 summit that Republican leaders need to "move their extreme positions" to achieve bipartisan consensus and characterized previous proposals as "unacceptable."