United States President Joe Biden confirmed on Wednesday that Congressional leaders agreed at yesterday's meeting that the country will not default, with the talks focused on how the budget will look like and not whether to raise the debt ceiling.
Speaking to reporters, Biden marked the meeting as "productive and respectful," asserting negotiators came in good faith. Biden stressed that there's no alternative to raising the debt ceiling, explaining that the negotiations will continue until a bipartisan solution is found.
Biden has scheduled a press conference after his G7 trip to Japan for Sunday, May 21, where he will deliver a new update on the status of negotiations.