June 1 debt ceiling deadline sparks Biden, Congress to meet next week

Here & Now's host Tiziana Dearing speaks with NPR economics reporter Scott Horsley about what is expected to happen next week when President Biden and congressional leaders have their first meeting in months about how best to lift the current cap on how much the U.S. can borrow to pay its bills.

On Monday, Treasury Secretary Janet Yellen came out with a forecast that says the U.S. could reach its debt limit on June 1 — and without the ability to borrow more money, the U.S. will default on its loans.