Biden to hold first meeting with McCarthy as debt ceiling battle looms – live updates

US must agree deal to raise its borrowing limit or facing devastating economic consequencesSign up to receive First Thing – our daily briefing by emailGood morning, US politics blog readers. This afternoon, Joe Biden will hold his first meeting with Kevin McCarthy since the California Republican was elected speaker of the House of Representatives, and the stakes couldn’t be higher. The two men will need to agree on a way to raise the US government’s borrowing limit in the next five months or so, otherwise Washington could default on its debt payments for the first time in history, with potentially cataclysmic economic consequences. That said, the White House is telling reporters not to expect too much from their encounter scheduled for 3.15pm eastern time – the two men will meet many times in the months to come.Here’s what else we can expect today:Kamala Harris is heading to Memphis to attend the funeral of Tyre Nichols, whose beating death following a traffic stop has led to the indic