After high-stakes meeting with Biden, McCarthy says 'common ground' possible

President Joe Biden and House Speaker Kevin McCarthy met in the Oval Office for more than hour Wednesday, and afterward McCarthy called it a "good first meeting," suggesting the two men might find a compromise over spending.

At the same time, he said there were "no agreements" and "no promises" made.

The highly anticipated meeting, the first the two men have held since McCarthy narrowly won the speakership last month, comes amid an ongoing standoff over the national debt limit.

"I think, at the of the day, we can find common ground, I really do," McCarthy told reporters in the White House driveway.

A few minutes later, the White House released its take on the meeting, saying the two men had a "frank and straightforward dialogue" and that the conversation would continue.