Punchbowl News: “If you’re honestly assessing the situation right now, you’d have to be pretty bearish about the prospects of coming to an agreement by June 1. Lawmakers and aides on both sides said they thought Tuesday’s meeting was mostly a wash. One source involved in the discussions said Biden and the Big Four can’t afford many more days like Tuesday if they want to reach an agreement in a timely manner.”
“The question, as ever, is who will blink first and when will that happen. McCarthy told us Tuesday that if the two sides are to solve this impasse by June 1, they’ll need an agreement in principle by early next week. And, as of right now, that looks a long way off.”
“Here’s some more bad news: McCarthy is firmly ruling out a short-term debt-limit increase. It’s only May 10, so perhaps this will change. But McCarthy seems pretty steadfast in his conviction that he won’t put a stopgap measure on the floor. Schumer and Jeffries have also pushed back against a short-term hike.”
