Speaker of the U.S. House of Representatives: Debt ceiling negotiations will reach a result, there will be no default

The Speaker of the US House of Representatives, Kevin McCarthy, held a press conference to provide the latest news on the debt ceiling negotiations. McCarthy said that the two sides still have differences on some content, but negotiators have gone to the White House to try to complete the negotiations. McCarthy believes that he has the ability to make progress on the U.S. debt ceiling issue, the U.S. debt ceiling negotiations will reach a result, there will be no debt default, and the United States will not increase taxes to solve the U.S. debt ceiling problem. Additionally, McCarthy reiterated his position that the U.S. government should keep spending in the next fiscal year below last year's levels.