Debt-Limit Talks Stall as Time Runs Short to Avert US Default

Photo: CNN (Fair Use)

Debt limit discussions in Washington have encountered a fresh deadlock as negotiators find themselves significantly divided on crucial matters, particularly the demanded spending cuts by Republicans, all while the clock ticks closer to a potentially historic US default.

Despite the stalemate, negotiators tentatively plan to reconvene at the negotiating table. On Wednesday, House Speaker Kevin McCarthy revealed that he had early discussions with White House negotiators and confirmed that the talks would continue.

Treasury Secretary Janet Yellen, speaking at a Wall Street Journal forum, also stated that both sides are still striving to reach an agreement, Bloomberg reported.

Accusations from House Republicans have intensified, alleging a lack of urgency on President Biden’s part during the negotiations.

Meanwhile, a Democratic aide accused McCarthy of being unwilling to find common ground across a wide range of contentious issues, thereby jeopardizing the prospects of a legislative agreement.

Written by staff