voters with his poll numbers really at their lowest. reporter: you are right. you can think of this as basically a high stakes game of chicken. both sides are completely dug in, by the way, going into this meeting. the white house and folks around these talks really downplaying the prospects for a major breakthrough. here is what s at issue. as you said, president biden saying he wants to increase the debt limit with no strings attached. he said, he is open to budget talks but not right now. republicans demanding that there are cuts as well. they just passed that bill that would increase the debt limit but it would also come with a number of cuts to things like veterans benefits, for example. the president and the white house saying that that is dead on arrival. so that is how these two sides are dug in. we anticipate the president will go into this meeting, that he is going to call for a long-term
made sure we wouldn t have the default because we raise the debt limit. well, now you met with the president. the senate hasn t done anything. i tried to. for 97 days, he has said no. i think the only reason we are actually here today is because we passed something. reporter: but democrats rejecting republican spending cut, calling for a debt ceiling with no strings attached. i told congressional leaders i m prepared to begin a separate discussion about my spending cuts but not under threat of default. i made clear we can cut spending and cut the deficit. reporter: the u.s. has maxed out its nearly $32 trillion credit card, and congress has just three weeks to raise the limit, a default top economists say would leave to financial disaster, a stock market dive, tanking 401(k)s and a spike in job losses. missing the deadline by a week would cost 1.5 million jobs, soaring to 8 million if the deadlock reaches the fall. in either case, a recession. and some federal spending could
each other, than at each other. at least that s the high-stakes meeting between president biden and top congressional leaders. cnn s alayna treene has more. this is a hugely consequential week for both ends of pennsylvania avenue. for now, both sides have dug into positions. dealt cats want a clean debt ceiling bill with no strings attached. and republicans want concessions to be part of the deal. given the balance in power, neither party will be able to get exactly what they want. and increasingly, democrats and republicans alike tell me they must reach to avoid defaults on debt. that s why the meeting so important. there s a lot at stake here. the last time president bind and speaker mccarthy sat down was february 1st. they re no closer to reaching a deal than they were then. the lawmakers that i spoke to saw this meeting as just that an
spending. but the us presidentjoe biden says no way. you need to pass this legislation with no strings attached. so off to the white house the two warring political parties go to try and work it out. but the clock is ticking. the us government could run out of cash as early as june one. so what are the possible consequences? for starters, june one. so what are the possible consequences? forstarters, people consequences? for starters, people who consequences? forstarters, people who work for government agencies won t get paid. and those getting social security benefits won t get their money, either. financial markets would fall and thousands of jobs would be lost in the immediate aftermath. but the most dire consequence would be investors losing confidence in the country stability to pay the interest on its debt, which comes in the form of treasury bonds, which are seen as one of the safest places to put your money. and that would quickly shatter the worlds confidence in america. w shat
million in the last two years that we know of. there are so many others that have just gotten in. we don t know their intentionses. and of course we know that chinese nationals are also up more than 1,000% year over year. that s a hard track from china. you have to question why so many people and my source told he me they re all engineers coming in. he said when he apprehends chinese nationals, they re engineers. so we don t know what the plan is huer. we re talking about it this morning as well. we have monica dela cruz, she s right in the middle of everything. she ll give us a good read in terms of what she is expecting come this thursday when title 42 goes away. we also have breaking news this morning on the debt ceiling negotiations. it looks like joe biden is coming out the loser here because it does appear the senates has enough votes to now block joe biden from trying to get a p clean debt ceiling bill through with no strings attached and that is all the work of