Debt Ceiling Negotiations Continue; Trusted Surrogates Delegated To Resolve Standoff

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Debt ceiling negotiations continued between President Joe Biden and House Speaker Kevin McCarthy (R-CA) on Tuesday resulting in the delegation of trusted surrogates to resolve the standoff.  Representing the president are Steve Richetti, counselor to the president, and Shalanda Young, director of the Office of Management and Budget; Rep. Garret Graves (R-LA) and members of McCarthy’s staff will negotiate on the speaker’s behalf.  The U.S. could default on its debt obligations by June 1, according to Treasury Secretary Janet Yellen, if the debt limit is not increased.  The White House argues it is the “constitutional duty” of the House to raise the debt limit.  However, House Republicans countered saying they did raise the limit by passing the Limit, Save, Grow Act, but it has not been taken up by the Senate. The next meeting has not been announced.