both men said talks were productive and repeated their stance that a default is off the table. to avoid that, though, they ll have to work out an agreement within the next ten days. my college michelle fleury explains. even before president biden met with house speaker kevin mccarthy, negotiators were once again around the table, trying to strike a deal to avoid a default. now, sources say the white house is now offering to keep spending flat from this year to next, while republicans they say they want to increase defence spending while cutting everything else by up to 22%. treasury secretary janet yellen confirmed over the weekend that june 1st is the hard deadline, when the government can no longer pay its bills. and the deadline for a deal may actually be sooner in order for it to pass the house and senate in time. and there s another worry even if they do get a deal done in time, will rank and file members of both parties go for it? the impact of defaulting would
has the latest from new york. there is a roughly one in four chance that the us will hit the so called x date that s when the government runs out of money to pay its bills without a deal to raise the debt limit. that is according to the banking giantjp morgan chase. and they say the odds are getting worse. that forecast comes after house speaker kevin mccarthy said on wednesday that he thought progress could be made, but warned that the two sides remain far apart. republicans are warning that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. republicans are demanding that any deal must cut future federal spending in exchange for raising the debt ceiling a red line for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of an agreement. and even if a deal is done in time, economists say that depending on the details, cuts to government spending
reach a deal on the country s debt ceiling, with the us house speaker kevin mccarthy saying on wednesday that negotiators remain far apart. our north america business correspondent michelle fleury has the latest from new york. there is a roughly one in clutch make chance that the us will hit the so called x date, when the us government runs out of money to pay its bills, before the dental ministries. that is according toj.p. morgan chase. they say the other any worse. debt limit raises. kevin mccarthy said he thought progress could be made but warned the two sides remain far apart. but warned the two sides remain farapart. her pub but warned the two sides remain far apart. her pub concert amending that any deal must cut future federal spending in exchange for raising the debt ceiling, a redline for the white house. on wall street, us stocks fell as investors have been watching these talks closely for any sign of agreement. and even if a deal is done in time, economists say
literally tilting at windmills. it comes as his legal team decides its best defense in his civil rape trial. no defense at all? another deadly mass shooting in america. the latest, a medical center in atlanta, prompting an impassioned plea from georgia senator raphael warnock. also, new reporting on the deep financial ties between supreme court justice clarence thomas and a texas billionaire. keep getting deeper. it keeps getting worse. on capitol hill, there is no off-ramp when it comes to a deal on the debt ceiling. we ll have the latest on the contentious negotiations. meanwhile, the markets mostly flat this morning in response to the latest interest rate hike from the federal reserve. we ll have a full breakdown of what could be the final move from the central bank in the fight to bring down inflation. good morning, everyone, and welcome to morning joe. it is thursday, may 4th. we got two out of three birthdays under our belt here. exactly. willie
2023. russia baselessly accusing america of being behind the drone attack on the kremlin. ukraine denies any involvement in that. we called the white house and pentagon. waiting for their reaction. another regional bank may be in trouble. shares of pac west are plunging 50% after the bufrpg ank could seeking a sail. police arrested the gunman accused of shooting five women inside of a medical center. one was killed. the suspect caught after an hour s long manhunt. and jack smith is looking into how the trump organization handled surveillance footage from mar-a-lago. and may the 4th be with. carrie fisher will get a star on the hollywood walk of fame today. star wars fan? um i can say i haven t seen star wars . i didn t want to admit. but i ve always loved her. and i m glad to see her honored in this way. let s get to the breaking news. this just coming in. russia is now accusing the united states of being behind that drone attack we told you about yesterday