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The Latest Breaking News from Kevin McCarthy

Debt limit talks seem to make little headway as Biden, world leaders watch from afar for progress

Debt limit talks between the White House and House Republicans stopped, started and stopped again heading into a weekend where President Joe Biden and world leaders watched from afar, hoping high-stakes negotiations would make progress on avoiding a potentially catastrophic federal default

The Independent UK

Biden confident US will avoid default amid tense debt talks

President Joe Biden downplayed fresh concerns that tensions in U.S. debt limit negotiations could lead to a catastrophic U.S. default, saying Republicans and Democrats will still be able to reach an agreement.

Tribune News Service

US debt default threatens global chaos making 2008 recession 'look like tea party'

The US has raised its debt ceiling limit multiple times in the last decade up to $13.4 trillion but a deal must be struck before the end of the month to avoid default which could spark a terrible recession

Daily Mirror

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Biden and McCarthy's shared debt ceiling math problem

“It’s one thing to strike a deal, then you got to pass it."

Axios

The ‘dysfunctional’ debt ceiling fight could cause a $12 trillion blow to the American economy if Washington doesn’t get its act together

There have been 78 debt ceiling deals since 1960 and zero failures. Could this time really be different?

Fortune

Debt limit talks halt as Republicans, White House face 'serious differences'

Debt limit talks between the White House and House Republicans stopped, started and stopped again Friday at the US Capitol, a dizzying series of events in high-stakes negotiations to avoid a potentially catastrophic federal default.

France 24

Debt limit talks resume after optimism curbed by GOP walkout

WASHINGTON — Negotiators resumed talks Friday night to avert a catastrophic U.S. default hours after a Republican walk-out punctured optimism that a debt-limit deal was near and drove down stocks.

Tribune News Service

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Debt ceiling deadlock centers on 2024 spending levels

"This kind of a pause is a real problem given the tight timeframe."

Axios

Debt ceiling talks briefly resume as US default deadline creeps closer

Janet Yellen, the treasury secretary, has said that without action the US will cease to be able to pay its debts around 1 June

The Guardian - US

Biden Stays Optimistic About The Debt Ceiling Deal As The Clock Ticks On Negotiations

Stocks plunged showing concerns in regard to the debt ceiling as the president face criticisms from Republicans.

Zenger

McCarthy puts debt-limit talks on ‘pause’ as clock ticks down

WASHINGTON — Debt-limit negotiations hit an impasse Friday as House Speaker Kevin McCarthy blamed the White House for resisting spending cuts, casting doubt on efforts in Washington to avert a catastrophic default.

Tribune News Service

Lead Negotiator For Kevin McCarthy Walks Out On Biden Administration Officials

House Speaker Kevin McCarthy's authority to negotiate the debt ceiling is being challenged by Rep. Alexandria Ocasio-Cortez.

Zenger

Debt-Ceiling Talks Are On Pause. So Is The S&P 500 Rally.

Debt-ceiling talks stalled Friday, helping to cool the S&P 500 rally. A deal is likely, but things may get more tense before either side caves.

Investors Business Daily

Republican debt-ceiling negotiators walk out of meeting, say White House ‘unreasonable’

House Speaker Kevin McCarthy’s top debt-ceiling negotiators abruptly left a closed-door meeting with White House representatives soon after it began Friday morning, throwing into doubt the status of talks to avoid a US default.

Tribune News Service

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Axios

White House: "real differences" in debt talks

Team Biden also wants to signal that a bipartisan compromise is still possible

WEKU

Debt talks resume after a snag as the country gets closer to a possible default

Negotiators between the White House and House Speaker Kevin McCarthy's team briefly paused talks on Friday. There's a little more than a week before the country runs out of money to pay its bills.

Salon

MTG's Biden impeachment "stunt" mocked

MAGA Republicans want to impeach the president while defending "fraudster George Santos," top Democrat says

The Independent UK

Top House negotiator on debt limit says it's time to 'press pause' as talks come to standstill

A top debt ceiling negotiator for House Speaker Kevin McCarthy says it’s time to “press pause” on talks as negotiations with the White House have come to an abrupt standstill at the Capitol

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Roll Call

Photos of the week ending May 19, 2023 - Roll Call

The debt limit showdown, an attempt to expel Rep. George Santos and a portrait unveiling of former Speaker Paul D. Ryan highlight this week.

Roll Call

'Pause' lifted, debt limit talks back on - Roll Call

Top negotiators for President Joe Biden and Speaker Kevin McCarthy resumed talks Friday evening to lift the nation’s borrowing cap.

The Guardian - US

Negotiating with post-Trump Republicans is like dealing with a toddler’s tantrum

While one side is happy to defecate on the floor, the other side has no choice but to clean up the mess

Axios

Scoop: Janet Yellen’s private debt ceiling warning to Wall Street

Behind closed doors, Yellen says borrowing costs are already rising.

WEKU

Democrats, worried about a Biden-McCarthy deal, push a backup plan to avoid default

Progressive Democratic lawmakers raised the alarm over comments Biden made earlier this week suggesting he's entertaining possible changes to federal safety net programs.

Tribune News Service

Noah Feldman: Biden has no power to unilaterally raise the debt ceiling

If Congress fails to raise the debt limit, can President Joe Biden somehow borrow more money to save the United States from default? The short answer is no. But that hasn’t stopped a group of Senate Democrats from urging Biden to act unilaterally by invoking the Fourteenth Amendment.

Los Angeles Times

Jackie Calmes: Why is the climate on the table in the debt ceiling fight?

Lost amid all the attention to the partisan standoff over raising the nation's debt limit is the insanity of a big part of the Republicans' bargaining position: Many of the savings they demand in return for a higher debt ceiling would come from killing the landmark clean energy initiatives President…

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