Speaker of the House Kevin McCarthy finally won his invitation to President Joe Biden's negotiating table for his showdown, even if the Biden administration has repeatedly said it won't negotiate on raising the debt ceiling. (McCarthy and other key lawmakers will meet with Biden at the White House on May 9.)

The looming U.S. debt default just got, like objects in the rear view mirror, closer than it had appeared — with Janet Yellen saying the U.S. could run out of money on June 1 without debt ceiling action in Congress.