Debt ceiling negotiators for President Joe Biden and House Speaker Kevin McCarthy holed up for more talks at the Capitol Tuesday, but Republicans warned of a “lack of urgency” at the White House to resolve the budget standoff in time to avert a potentially chaotic federal default.
With barely a week to go before a deadline as soon as June 1 the Democratic president and the Republican speaker were staring down a financial crisis. Failure to strike a deal would be unprecedented, and certain to throw U.S. financial markets into turmoil, inflicting economic pain at home and abroad.
