US Debt Ceiling Talks Halted Over ''Serious Differences'' As Default Deadline Inches Closer
NDTV
The US faces a deadline as soon as June 1 to raise the country's borrowing limit, now at $31 trillion, to keep paying the nation's bills.
Crucial talks between US House of Representatives Republicans and President Joe Biden's administration about raising the debt ceiling briefly resumed on Friday before concluding with no progress, Guardian reported. As per the report, negotiations came to an abrupt standstill earlier in the day when House Speaker Kevin McCarthy said it was time to ''pause'' talks. The negotiating teams convened again in the evening only to quickly call it quits for the night.
Notably, the developments come as the US faces a deadline as soon as June 1 to raise the country's borrowing limit, now at $31 trillion, to keep paying the nation's bills.
''At the direction of the speaker of the House, we re-engaged, had a very, very candid discussion talking about where we are, talking about where things need to be, what's reasonable and acceptable,'' Rep. Garret Graves, Mr McCarthy's lead negotiator, told reporters after Friday night's meeting.
''This wasn't a negotiation tonight. This was a candid discussion about realistic numbers, a realistic path forward, and something that truly changes the trajectory of this country's spending and debt problem,'' he added.
