US Republicans and Biden's Democratic administration pause talks on raising federal government's $31.4 trillion debt ceiling, rattling financial markets as default date nears
A poster on a bus shelter showing the national debt is seen in Washington, DC, on May 19, 2023. / Photo: AFP
McCarthy said on Friday resolution to the standoff is"easy," if only Democratic President Joe Biden's team would agree to some spending cuts Republicans are demanding. "We’ve got to get movement by the White House and we don’t have any movement yet," McCarthy, R-Calif., told reporters at the Capitol."So, yeah, we’ve got to pause."
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Debt limit talks in standstill as Republicans, White House face 'real differences'Debt limit talks came to an abrupt standstill after Republican House Speaker Kevin McCarthy said it’s time to “pause” negotiations. A White House official acknowledged there are “real differences” that are making talks difficult. Wall Street markets were down Friday amid the developments. It's not clear when the talks will resume. Biden’s administration is racing to strike a deal with Republicans as the nation careens toward a potentially catastrophic debt default if the nation fails to pay its bills. McCarthy says it's an “easy” problem to resolve by cutting government spending.
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Debt Limit Talks in Standstill as Republicans, White House Face ‘Real Differences’The Biden administration is racing to strike a deal with Republicans as the nation careens toward a potentially catastrophic debt default if the government fails to increase the borrowing limit, now at $31 trillion, to keep paying the nation’s bills.
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Debt limit talks stall as Republicans, White House face 'real differences'Debt limit talks came to an abrupt standstill after Republican House Speaker Kevin McCarthy said it’s time to “pause' negotiations.
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57 House Republicans demand debt limit talks include crackdown on illegal immigrantsThe Republican Study Committee is calling for the House GOP's border bill to be a starting point on adding such measures to debt limit talks.
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Republicans walk out of debt ceiling talks, say White House isn't being 'reasonable'Financial markets dipped on news of the debt ceiling talks stalling, after a week of purported progress.
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Debt ceiling talks hit a snag, negotiators press pause for now | CNN PoliticsDebt ceiling talks between the White House and House Speaker Kevin McCarthy’s office have hit a snag, and negotiators have put a pause on the talks, multiple sources tell CNN.
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