Debt Ceiling Talks HALTED
High-stakes talks on raising the debit limit abruptly halted as Republicans walked out and blamed the White House for the delay.
Financial markets reacted negatively after positive progress earlier in the week.
A key issue is spending caps, with Republicans pushing for a rollback to 2022 levels.
Both parties face challenges in keeping their caucuses unified.
Biden cut short his trip to Japan for the G7 summit in order to continue negotiations.
The Senate is set to return later in May, but members were advised to be ready to return on short notice.
The Treasury Secretary's earlier deadline of June 1 added urgency to the discussions.
Biden JUST tweeted that a US default would lead to “8 million Americans” loosing their jobs, with “catastrophic” consequences, and that “default is not an option”
Will both sides be able to negotiate an agreement or will the US default?
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