President Joe Biden meets with Senate Majority Leader Chuck Schumer (D-NY), Minority Leader Mitch McConnell (R-KY), House Speaker Kevin McCarthy (R-CA) and House Minority Leader Hakeem Jeffries (D-NY) to discuss the debt ceiling, Tuesday, May 9, 2023, in the Oval Office of the White House.

President Joe Biden meets with Senate Majority Leader Chuck Schumer (D-NY), Minority Leader Mitch McConnell (R-KY), House Speaker Kevin McCarthy (R-CA) and House Minority Leader Hakeem Jeffries (D-NY) to discuss the debt ceiling, Tuesday, May 9, 2023, in the Oval Office of the White House.

House Speaker Kevin McCarthy says he will send lawmakers home for Memorial Day weekend, despite the fact no deal has been struck to raise the debt limit. This takes the country one step closer to what many describe as going over a fiscal cliff.

The Treasury Department estimates June 1 as the day when the U.S. government will run out of money, triggering potentially catastrophic economic effects. Norm Ornstein joins Diane to explain where the negotiations stand, what option President Biden might have to raise the debt ceiling without Republican support, and how this all could have been avoided in the first place.

Guests

  • Norman Ornstein Emeritus scholar at the American Enterprise Institute; co-author of "It's Even Worse Than It Looks: How the American Constitutional System Collided With the New Politics of Extremism"

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