GOP and White House talks continue as debt ceiling deadline approaches
The latest on the talks to raise the debt ceiling
- Treasury Secretary Janet Yellen has repeatedly warned that without an increase to the debt ceiling, the United States could run out of cash to pay the bills as soon as June 1.
- President Joe Biden and House Speaker Kevin McCarthy and their negotiators are working to reach an agreement. Republicans are demanding that any deal must cut federal spending in exchange for raising the debt ceiling.
- Yesterday, talks appeared to stall, with the White House warning negotiations had hit a "speed bump."