summoned
the four Senate and House of Representatives leader -- two
fellow Democrats and two Republicans -- to the White House next
week, after the U.S. Treasury warned the government could run
short of cash to pay its bills as soon as June 1.
"He is not going to negotiate on the debt ceiling," White House press secretary Karine Jean-Pierre said. But the president "is willing to have a separate conversation about their spending, what they want to do with the budget."
The debt limit was increased three times under former
President Donald Trump without an issue, she added.
Treasury's June 1 estimate raised the risk that the United States could be headed into an unprecedented default that would shake the global economy, adding urgency to political calculations in Washington, where Democrats and Republicans were girding for a months-long standoff.
Treasury Secretary
Janet Yellen said in a letter to Congress that the agency will be unlikely to meet all U.S. government payment obligations "potentially as early as June 1" without action by Congress.
Biden called Republican House Speaker Kevin McCarthy in Jerusalem, where he is on a diplomatic trip, to invite him to the May 9 White House meeting. The two leaders haven't sat down to discuss the issue since February.
Biden also made calls to the minority leaders in the
Senate and House, Republican Senate leader Mitch McConnell and
House Democratic leader Hakeem Jeffries, and to Senate Majority
Leader Chuck Schumer.
(Reporting by Andrea Shalal and Nandita Bose in Washington;
Editing by Chris Reese, Heather Timmons and Leslie Adler)
