US President Joe Biden returns to negotiations with Kevin McCarthy in bid to settle dispute over debt ceiling

Kevin McCarthy blamed Joe Biden for refusing to engage earlier on annual federal spending. Photo: Jacquelyn Martin-Pool/Getty Images© Getty Images

Lisa Mascaro, Stephen Groves and Zeke Miller

US President Joe Biden and House Speaker Kevin McCarthy met late on Monday at the White House at a pivotal moment as Washington works to strike a budget compromise and raise the nation's borrowing limit in time to avert a potentially chaotic federal default.