The president of the USA Joe Biden and the speaker of the House of Representatives, Republican Kevin McCarthy, will meet tomorrow Monday to discuss the issue of raising the debt limit, after the “productive” telephone conversation they had today.

McCarthy spoke with Biden while the latter is returning to the US from Japan, where he participated in the G7 summit. Speaking to reporters, he said the talks to resolve the crisis were “positive” and that their staffs would meet to continue the negotiation later today.

Biden earlier said he would be willing to cut spending, combined with tax cuts to reach a deal, but called the Republicans’ latest proposal to raise the debt limit “unacceptable.” Before he left Hiroshima, he hinted that Republicans would want a default so that its disastrous effects would make it difficult for him to be re-elected in the 2024 presidential election.

McCarthy however, he told reporters that the situation is better now but reiterated to Biden that spending should be reduced. “My position has not changed, h Washington he can’t keep spending money we don’t have,” he tweeted. However, he clarified that he is in favor of increasing defense spending.