New round of US debt ceiling talks kicks off as default worries grow

US President Joe Biden shakes hands as he presents a copy of his speech to House Speaker Kevin McCarthy before the State of the Union address in January. Photo: Jacquelyn Martin-Pool/Getty Images© Getty Images

David Morgan, Richard Cowan and Andrea Shalal

US President Joe Biden and House Republican Speaker Kevin McCarthy plan to meet over the debt ceiling on Monday, with just 10 days before the Treasury expects to start running out of money in what would be an unprecedented default upending the global economy.