cbs's nancy cordes joins us now from the white house. all right, nancy, did any agreements ome from this -- come out of this high-stakes meeting? >> reporter: unfortunately, norah, if wall street and main street were looking for reassurance coming out of this meeting, they did not get it. instead, president biden and house speaker kevin mccarthy% stuck to their positions and agreed to meet again on friday. but at that point, the u.s. could be less than three weeks away from defaulting on its debt unless congress acts, and here's why this is so serious. even a brief default could cause a downgrade of u.s. credit and delay the distribution of food stamps and social security checks and so much more. while a prolonged crisis could drive up interest rates and put more than 8 million americans out of work. now, here is the impasse. president biden says congress needs to raise the nation's borrowing limit, no strings attached, but speaker mccarthy
Related Keywords
Reporter , Ga Norah , Cbs , Meeting , White House , U S , Nancy Cordes , Agreements , Wall Street , Main Street , President , Biden , Kevin Mccarthy , Debt , Reassurance , Positions , Point , Three , More , Default , Interest Rates , Facts , Downgrade , Distribution , Credit , Social Security Checks , Food Stamps , Crisis , Work , Impasse , Borrowing Limit , Congress , Nation , No Strings Attached , 8 Million ,
vimarsana.com © 2020. All Rights Reserved.