Debt limit talks between the White House and House Republicans stopped, started and stopped again Friday at the U.S. Capitol, a dizzying series of events in high-stakes negotiations to avoid a potentially catastrophic federal default.
President Joe Biden’s administration is reaching for a deal with Republicans led by House Speaker Kevin McCarthy as the nation 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. Republicans are demanding steep spending cuts the Democrats oppose.
