If you're losing faith in Washington, well, the current standoff overraising the debt

ceiling and the possibility of default probably isn't helping.

And we've been here before, and it's likely we'll be here again.

As of today, lots of political posturing, but no deal.

US Treasury Secretary Janet Yellen says without one, the US is dangerously close to default

and could be unable to pay its bills by next month.

Early June is when we project that we will run out of cash, and there is a chance it could

be as early as June 1st.

Of course, there is a lot of uncertainty, and I plan to update Congress as new information

becomes available, but that's still our current thinking.

Republicans want deep spending cuts to slash trillions of dollars from President Biden's

climate program from affordable housing, Medicaid, and more that's spending already approved

by Congress.

Democrats want a clean bill to raise the debt ceiling and say negotiations on fiscal

reform should be separate from paying off existing debts.

Congressional leaders from both parties met with Biden yesterday to begin negotiations,

but House Speaker Kevin McCarthy said they made no progress.

Everybody in this meeting reiterated the positions they were at.

I didn't see any new movement.

President said the staff should get back together, but I was very clear with the president.

We have now just two weeks to go.

President Biden was more positive and said the meeting was productive, but his basic

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