Debt Ceiling Standoff Continues as Biden, McCarthy Set to Meet

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) will meet Wednesday for a one-on-one meeting as a standoff on the debt ceiling continues.

The Details: A number of Republicans in the House and Senate are pushing for spending cuts to accompany any increase in the debt ceiling. The Biden administration is refusing to negotiate, accusing House Republicans of holding the economy "hostage."

Key Quotes: In a letter to Biden, 24 House Republicans wrote that "We, the undersigned members of the Senate Republican Conference, write to express our outright opposition to a debt-ceiling hike without real structural spending reform that reduces deficit spending and brings fiscal sanity back to Washington."

For Context: Treasury Secretary Janet Yellen informed Congress that the U.S. reached the $31.4 trillion debt limit on January 19. If Republicans reveal the domestic programs they wish to cut, the White House hopes that the program cuts will prove to be unpopular. Meanwhile, the Senate Republican Conference is citing the Prevent Government Shutdowns Act, which would automatically provide money to fund the government if Congress fails to act.

How the Media Covered It: The debt ceiling standoff was covered by sources across the political spectrum. Some right-rated sources, such as The Daily Caller, highlighted Sen. Joe Manchin's (D-W.Va.) concerns about the White House's apparent unwillingness to negotiate. Some left-rated sources, such as USA TODAY, focused more on Biden's reasons for holding his ground.