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Debt talks are set to resume as President Joe Biden and House Speaker Kevin McCarthy prepare to meet in person Monday about averting an economy-wrecking federal default. The Republican leader is expressing cautious optimism about a possible debt ceiling compromise as Washington races to raise America’s borrowing limit before the funds could be depleted early next month. The leaders spoke by phone Sunday while president was returning home on Air Force One after the Group of Seven summit in Japan. McCarthy told reporters at the Capitol that the call was “productive.” Negotiations between Republicans and White House representatives were to resume Sunday evening at the Capitol.