The government has announced a new June 5 default deadline, dragging the White House and Republicans toward another week of negotiations over cutting spending and raising the nation’s legal debt limit.
President Joe Biden will meet in person Monday with House Speaker Kevin McCarthy about averting an economy-wrecking federal default.
Debt limit talks came to an abrupt standstill Friday after Republican House Speaker Kevin McCarthy said it’s time to “pause” negotiations, and a White House official acknowledged there are “real differences” that are making talks difficult.
Millions of Americans rely on benefits that could go unpaid and services that could be disrupted, or halted, if the government can’t pay its bills for an extended period.
