WASHINGTON — Debt-limit negotiations hit an impasse Friday as House Speaker Kevin McCarthy blamed the White House for resisting spending cuts, casting doubt on efforts in Washington to avert a catastrophic default.
McCarthy spoke shortly after his hand-picked negotiators abruptly walked out of talks with White House officials, a reversal from the Republican leader’s optimistic view that an deal could be reached as soon as the weekend. The setback weighed on Wall Street where shares slid on the news.
“We’ve got to get movement by the White House and we don’t have any movement,” McCarthy, who was not in the meeting, said. “So yeah, we’ve got to pause.”
