White House and Republican negotiators quiet after debt ceiling talks fail

05/20 15:25

White House and Republican congressional negotiators failed to make progress in raising the federal debt ceiling during meetings on Friday. With less than two weeks until June 1, when the U.S. Treasury Department has warned that the federal government could be unable to pay all its debts, negotiators are unsure when fresh meetings will take place. President Joe Biden, however, remains optimistic that a default can be avoided. Republicans are pushing for sharp spending cuts in exchange for the increase in the government's borrowing limit, while Democrats are pushing to hold spending steady at this year's levels.

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