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Toggle navigation Toggle navigation * Home * Investigations * Scorpio * Our Burning Planet * Amabhungane * Declassified UK * News & Analysis * Business Maverick * Maverick Citizen * Sport * Newsdeck * Maverick News * Features * Opinionistas * Maverick Life * TGIFood * Covid-19 * Podcasts * Webinars * Zapiro * Newsletters * Newspaper * E-Edition * Contact Us * Search GO DM IS MUCH BETTER IF YOU ARE SIGNED IN... Enter your email below, and we will send you a mail with a link or One-time pin to login. Send email to login A code has been sent to .... Please check you email address. Please enter the One Time Pin Below: Didn't get the code? Resend email IT LOOKS LIKE WE DON’T HAVE AN ACCOUNT FOR THIS. WOULD YOU LIKE US TO CREATE AN ACCOUNT FOR YOU? Create a new account Sign in with password LOGIN WITH A PASSWORD or Continue with Facebook Continue with Google Remember Me Forgot Password? Use a One Time Pin? Shop SUPPORT DM Login × search Custom Search Sort by: Date Date Relevance NEWSDECK NEWSDECK BIDEN-MCCARTHY DEBT TALK ENDS WITH OPTIMISM, BUT WITHOUT A DEAL Kevin McCarthy and Joe Biden on May 22. Photographer: Yuri Gripas/Abaca/Bloomberg By Bloomberg Follow Following 23 May 2023 Follow Following 0 (BLOOMBERG) -- PRESIDENT JOE BIDEN AND HOUSE SPEAKER KEVIN MCCARTHY REMAINED WITHOUT A DEAL ON THE DEBT LIMIT MONDAY NIGHT AFTER ANOTHER ROUND OF TALKS, THOUGH THEY CALLED THEIR DISCUSSIONS PRODUCTIVE AND VOWED TO KEEP NEGOTIATING TO AVERT A CATASTROPHIC US DEFAULT. Listen to this article 0:00 / 3:27 1X BeyondWords The two met at the White House for more than an hour Monday evening in Washington. Earlier, Treasury Secretary Janet Yellen that warned it’s “highly likely” her department would run out of sufficient cash in early June and that default could come as soon as June 1. “The tone tonight was better than any other time we have had discussions,” McCarthy told reporters as he emerged from his meeting with the president. The two leaders, he said, “had a productive discussion. We don’t have an agreement yet.” MAKE SENSE OF THE CLIMATE CRISIS HEAR WEEKLY FROM THE BIGGEST CLIMATE REPORTING DIVISION IN AFRICA, REPORTING STORIES THAT CONCERN YOU, YOUR FUTURE AND YOUR ENVIRONMENT. DIRECT TO YOUR INBOX, FREE OF CHARGE. SUBSCRIBE Biden, in a statement on Monday night, agreed that the session had been “productive.” “We reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement,” he said. White House negotiators returned to the Capitol on Monday night. McCarthy said he expected to speak daily with Biden until a deal is sealed. The leaders’ hand-picked negotiating teams will continue talks Monday night. “We’re going to let the teams work tonight and see if we get progress,” McCarthy said. US equity futures edged higher after McCarthy spoke about the tone of the talks, while their Treasury equivalents were little changed. After the meeting, McCarthy stressed that Republicans wouldn’t agree to any tax changes as part of a debt agreement. “No, we’re not looking at revenues,” he said. The current standoff over the debt ceiling has the potential to put more strain on the US economy, which is already vulnerable to a recession after a series of interest-rate increases by the Federal Reserve, according to Bloomberg Economics. US INSIGHT: Cost of Debt Deal – Spending Cuts May Cost 570k Jobs Republicans want to slash domestic spending over as many years as possible, while Democrats have offered slimmer cuts over a couple of years. Democrats also want to include defense spending limits in any agreement. That sets up a key tension for hawkish Republicans, who want to increase the Pentagon budget at the expense of deeper cutbacks in social spending. McCarthy said defense cuts shouldn’t be on the table. The California Republican said he would not waive a rule that allows House lawmakers 72 hours to review legislation before a vote. Conservatives have demanded the time but it adds to the pressure to get an agreement. Rohit Kumar, Senate Republican Leader Mitch McConnell’s chief negotiator in the 2011 debt-limit crisis and now a principal in PwC’s Washington office, said the signals from the leaders coming out of the White House meeting are “a good sign for getting a deal” and that he sees a “more than 50-50” chance of an agreement emerging in the next couple days. Even if it takes a little longer to complete, a default is unlikely after an agreement, he said. “Once the deal is struck, Congress always finds a way to get it done by the deadline, and if they can’t get it done by the deadline, they extend the deadline,” Kumar added. –With assistance from Erik Wasson, Jarrell Dillard, Steven T. Dennis and Anna Edgerton. Share to Facebook Facebook Share to Twitter Twitter Share to Email App Email App Share to WhatsApp WhatsApp Hide WE WOULD LIKE OUR READERS TO START PAYING FOR DAILY MAVERICK... …but we are not going to force you to. Over 10 million users come to us each month for the news. We have not put it behind a paywall because the truth should not be a luxury. Instead we ask our readers who can afford to contribute, even a small amount each month, to do so. If you appreciate it and want to see us keep going then please consider contributing whatever you can. 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Performance Performance Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. CookieDurationDescriptiond3 monthsThis cookie tracks anonymous information on how visitors use the website. Analytics Analytics Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. CookieDurationDescription__gads1 year 24 daysThis cookie is set by Google and stored under the name dounleclick.com. This cookie is used to track how many times users see a particular advert which helps in measuring the success of the campaign and calculate the revenue generated by the campaign. These cookies can only be read from the domain that it is set on so it will not track any data while browsing through another sites._ga2 yearsThis cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors._ga_Y7XD5FHQVG2 yearsThis cookie is installed by Google Analytics._gat_UA-10686674-11 minuteThis is a pattern type cookie set by Google Analytics, where the pattern element on the name contains the unique identity number of the account or website it relates to. It appears to be a variation of the _gat cookie which is used to limit the amount of data recorded by Google on high traffic volume websites._gid1 dayThis cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form.ajs_anonymous_idneverThis cookie is set by Segment.io to check the number of ew and returning visitors to the website.ajs_user_idneverThe cookie is set by Segment.io and is used to analyze how you use the websiteANON_ID3 monthsThis cookie is provided by Tribalfusion. The cookie is used to give a unique number to visitors, and collects data on user behaviour like what page have been visited. This cookie also helps to understand which sale has been generated by as a result of the advertisement served by third party.jam_heavy_ga_session5 yearsThis cookie is installed by Google Analytics.UserID13 monthsThe cookie sets a unique anonymous ID for a website visitor. This ID is used to continue to identify users across different sessions and track their activities on the website. The data collected is used for analysis.uvc1 year 1 monthThe cookie is set by addthis.com to determine the usage of Addthis.com service. Advertisement Advertisement Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads. CookieDurationDescription__tbc2 yearsThis cookie is used for measuring the efficiency of advertisement by registering data on visitors from multiple website._cc_aud8 months 26 daysThe cookie is set by crwdcntrl.net. The purpose of the cookie is to collect statistical information in an anonymous form about the visitors of the website. The data collected include number of visits, average time spent on the website, and the what pages have been loaded. These data are then used to segment audiences based on the geographical location, demographic, and user interest provide relevant content and for advertisers for targeted advertising._cc_ccsessionThe cookie is set by crwdcntrl.net. The purpose of the cookie is to collect statistical information in an anonymous form about the visitors of the website. The data collected include number of visits, average time spent on the website, and the what pages have been loaded. These data are then used to segment audiences based on the geographical location, demographic, and user interest provide relevant content and for advertisers for targeted advertising._cc_dc8 months 26 daysThe cookie is set by crwdcntrl.net. The purpose of the cookie is to collect statistical information in an anonymous form about the visitors of the website. The data collected include number of visits, average time spent on the website, and the what pages have been loaded. These data are then used to segment audiences based on the geographical location, demographic, and user interest provide relevant content and for advertisers for targeted advertising._cc_id8 months 26 daysThe cookie is set by crwdcntrl.net. The purpose of the cookie is to collect statistical information in an anonymous form about the visitors of the website. The data collected include number of visits, average time spent on the website, and the what pages have been loaded. These data are then used to segment audiences based on the geographical location, demographic, and user interest provide relevant content and for advertisers for targeted advertising._kuid_5 months 27 daysThe cookie is set by Krux Digital under the domain krxd.net. The cookie stores a unique ID to identify a returning user for the purpose of targeted advertising._rxuuid1 yearThe main purpose of this cookie is targeting, advertesing and effective marketing. This cookie is used to set a unique ID to the visitors, which allow third party advertisers to target the visitors with relevant advertisement up to 1 year.ANON_ID_old3 monthsThis cookie helps to categorise the users interest and to create profiles in terms of resales of targeted marketing. This cookie is used to collect user information such as what pages have been viewed on the website for creating profiles.bscookie2 yearsThis cookie is a browser ID cookie set by Linked share Buttons and ad tags.CMID1 yearThe cookie is set by CasaleMedia. The cookie is used to collect information about the usage behavior for targeted advertising.CMPRO3 monthsThis cookie is set by Casalemedia and is used for targeted advertisement purposes.CMPS3 monthsThis cookie is set by Casalemedia and is used for targeted advertisement purposes.CMST1 dayThe cookie is set by CasaleMedia. The cookie is used to collect information about the usage behavior for targeted advertising.DSID1 hourThis cookie is setup by doubleclick.net. This cookie is used by Google to make advertising more engaging to users and are stored under doubleclick.net. It contains an encrypted unique ID.google_push5 minutesThis cookie is set by the Bidswitch. This cookie is used to collect statistical data related to the user website visit such as the number of visits, average time spent on the website and what pages have been loaded. This collected information is used to sort out the users based on demographics and geographical locations inorder to serve them with relevant online advertising.i1 yearThe purpose of the cookie is not known yet.id3 monthsThe main purpose of this cookie is targeting and advertising. It is used to create a profile of the user's interest and to show relevant ads on their site. This Cookie is set by DoubleClick which is owned by Google.IDE1 year 24 daysUsed by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile.IDSYNC1 yearThis cookie is used for advertising purposes.KADUSERCOOKIE3 monthsThe cookie is set by pubmatic.com for identifying the visitors' website or device from which they visit PubMatic's partners' website.KTPCACOOKIE1 dayThis cookie is set by pubmatic.com for the purpose of checking if third-party cookies are enabled on the user's website.ljt_reader1 yearThis is a Lijit Advertising Platform cookie. The cookie is used for recognizing the browser or device when users return to their site or one of their partner's site.loc1 year 1 monthThis cookie is set by Addthis. This is a geolocation cookie to understand where the users sharing the information are located.mc1 year 1 monthThis cookie is associated with Quantserve to track anonymously how a user interact with the website.mt_mop1 monthStores information about how the user uses the website such as what pages have been loaded and any other advertisement before visiting the website for the purpose of targeted advertisements.personalization_id2 yearsThis cookie is set by twitter.com. It is used integrate the sharing features of this social media. It also stores information about how the user uses the website for tracking and targeting.suid_legacy1 yearThis cookie is used to collect information on user preference and interactioin with the website campaign content. This cookie is used for promoting events and products by the webiste owners on CRM-campaign-platform.TDCPM1 yearThe cookie is set by CloudFlare service to store a unique ID to identify a returning users device which then is used for targeted advertising.TDID1 yearThe cookie is set by CloudFlare service to store a unique ID to identify a returning users device which then is used for targeted advertising.test_cookie15 minutesThis cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies.tluid3 monthsThis cookie is set by the provider AdRoll.This cookie is used to identify the visitor and to serve them with relevant ads by collecting user behaviour from multiple websites.tuuid1 yearThis cookie is set by .bidswitch.net. The cookies stores a unique ID for the purpose of the determining what adverts the users have seen if you have visited any of the advertisers website. The information is used for determining when and how often users will see a certain banner.tuuid_lu1 yearThis cookie is set by .bidswitch.net. The cookies stores a unique ID for the purpose of the determining what adverts the users have seen if you have visited any of the advertisers website. The information is used for determining when and how often users will see a certain banner.uid5 months 27 daysThis cookie is used to measure the number and behavior of the visitors to the website anonymously. The data includes the number of visits, average duration of the visit on the website, pages visited, etc. for the purpose of better understanding user preferences for targeted advertisments.uuid1 year 27 daysTo optimize ad relevance by collecting visitor data from multiple websites such as what pages have been loaded.VISITOR_INFO1_LIVE5 months 27 daysThis cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website.wfivefivec1 year 1 monthThe domain of this cookie is owned by Dataxu. The main business activity of this cookie is targeting and advertising. This cookie tracks the advertisement report which helps us to improve the marketing activity.xbc2 yearsThis cookie is used for optmizing the advertisement on the website more relevant by analysing the user behaviour and interaction with the website.YSCsessionThis cookies is set by Youtube and is used to track the views of embedded videos. Others Others Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. CookieDurationDescription__browsiSessionID30 minutesNo description available.__browsiUID1 yearNo description available.__cflb23 hoursThis cookie is used by Cloudflare for load balancing.__gpi1 year 24 daysNo descriptionajs_group_idneverThis cookie is set by Segment.io. The purpose of the cookie is currently not identified.blkbs6 days 23 hoursNo descriptioncharitable_session1 dayNo description available.cookietestsessionNo descriptiondebugneverNo description available.gCStest7 years 1 month 26 days 16 hoursNo descriptionmuc_ads2 yearsNo descriptionrevengine_browser_idsessionNo descriptionrevengine-browser-tokensessionRevEngine Data Tool.rl_user_idneverNo description available.tf_respondent_cc6 monthsNo descriptionUserMatchHistory1 monthLinkedin - Used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences.vic_loc_error10 minutesNo descriptionvicinity_id1 year 10 months 24 days 11 hoursVicinity Advertising. SAVE & ACCEPT Powered by PLEASE PEER REVIEW 3 COMMUNITY COMMENTS BEFORE YOUR COMMENT CAN BE POSTED looks goodnomis/disinformation? BECOME AN INSIDER There are many great benefits to being a Maverick Insider. 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