president joe biden will meet house speaker kevin mccarthy at 530 pm et monday to discuss the debt ceiling and attempt to reach a deal as a june 1 goverment default deadline approaches white house negotiatiors arrived at the capitol early monday with cnn reporting they did not respond to a series of questions regarding the debt ceiling discussion markets are anxiously awaiting evidence of a bipartisan compromise over the debt limit to prevent the catastrophic situation of the us government running out of money in june as well as specifics of the tax and expenditure measures in a debt ceiling deal the sp 500 index which is closely tracked by the spdr sp 500 etf trust spy is trading at over 4200 monday its highest value this year here are the most recent developments in debt ceiling negotiations monday   mccarthy arrived at the capitol at about 1040 am et according to the cnn democrats since they took the majority have been addicted to spending and thats going to stop were going to spend less than we spent last year he told reporters   i dont worry about a default because the senate could always take up our bill he added   house financial services committee chair patrick mchenry mccarthys negotiator said early monday that all sides know the deadline and are working in good faith despite significant obstacles   biden contacted mccarthy from air force one on his way back from the g7 summit in japan earlier sunday mccarthy said the call was productive   biden said before leaving japan he would propose a plan involving over 1 trillion in expenditure cuts on top of 3 trillion in deficit reduction asking republicans to move on   according to goldman sachs the us treasurys cash levels would fall below 30 billion by june 8 or 9 the bare minimum required to pay its debt commitments   treasury secretary janet yellen said that the us is unlikely to reach midjune and still be able to pay its obligations emphasizing the importance of the white house finding an agreement with republicans to extend the debt ceiling bloomberg reported over the weekend read now powell says credit crunch could mitigate need for higher rate bernanke emphasizes its different than 2008