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The Latest Breaking News from Kevin McCarthy

Biden says US debt deal 'very close' as default deadline set at June 5

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden said Friday that a deal is “very close.”

France 24

Biden says debt deal 'very close' even as two sides far apart on work requirements

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden says a deal is “very close.”

The Independent UK

Four-day reprieve before US is officially bankrupt

Democrat and Republican negotiators have gained a few more days to reach a deal to raise the US government's $31.4 trillion debt ceiling, as Treasury

The New Daily

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Where do things stand as the US rolls back debt ceiling deadline?

US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5.

Al Jazeera

US Treasury Secretary Janet Yellen pushes back forecast of potential US default date to June 5

US Treasury Secretary Janet Yellen says the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.

ABC News

McCarthy, Biden close to deal — maybe

Biden and McCarthy may cut a deal before the weekend — but many Republicans and Democrats are likely to oppose it

Salon

Stock Market Today: Stocks Jump on Debt Ceiling Progress

The major benchmarks rallied into the long weekend after lawmakers said they're making strides in debt ceiling negotiations.

Kiplinger

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Biden ‘optimistic’ of debt ceiling deal as Yellen extends deadline to 5 June

Lawmakers on call over Memorial Day weekend as treasury secretary revises estimate of when US will run out of money

The Guardian - US

Biden says debt ceiling deal 'very close.' Here's why it remains elusive

The Treasury estimates the country could default on its loans early next month. But negotiators are still hashing out key provisions like whether to expand work requirements for federal assistance.

WEKU

Yellen: Treasury to have 'insufficient resources' by June 5 - Roll Call

The U.S. government could be unable to pay all its bills on time if the debt limit isn’t raised or suspended by June 5.

Roll Call

U.S. debt ceiling fight riles Texans at both political ends

The high-stakes confrontation could have an impact on retirements accounts, corporations and much more.

The Texas Tribune

Voters want compromise in Congress -- so why the brinkmanship over the debt ceiling?

There’s progress on the debt limit. There’s no progress. Conservatives have revolted. Liberal Democrats are angry. Negotiators actually ate a meal together. That’s a good sign. No it isn’t. Who’s up? Who’s down?

The Conversation

Washington inching closer to debt deal

WASHINGTON: Democrats and Republicans inched towards a deal on Friday, ahead of a long weekend, to extend the US debt ceiling and avoid a crippling default that could hit the world's biggest economy within days.

Bangkok Post

Judge pauses South Carolina abortion ban; emerging debt ceiling agreement ‘has fewer cuts than expected’ – as it happened

Temporary block on restrictions until state supreme court can review; Joe Biden and Kevin McCarthy reportedly closing in on a deal

The Guardian - US

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The Guardian - UK

First Thing: Biden and Republicans ‘nearing deal’ on debt ceiling

House adjourned for holiday weekend but lawmakers could be recalled to vote on deal if agreement is reached. Plus, why men lose their friends – and how they can make more

The Independent UK

Stock market today: Asian markets mixed as US government debt talks push toward brink of default

Asian markets have turned mostly higher as a deadline looms for Congress to reach a deal on the U.S. government debt or face a potentially damaging default

The Independent UK

Deadline looming, Biden and McCarthy narrow in on budget deal to lift debt ceiling

Days from a deadline, President Joe Biden and House Speaker Kevin McCarthy are narrowing in on a two-year budget deal that could unlock a vote for lifting the nation’s debt ceiling

Chicago Sun-Times

Debt ceiling talks teeter on the brink, as lawmakers leave town for weekend without a deal

Lawmakers are not expected back in Washington until Tuesday, two days before Treasury Secretary Janet Yellen predicts the U.S. won’t have funds to pay its bills.

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The New Daily

Biden, McCarthy edge closer to deal on US debt ceiling

US President Joe Biden and top Republican Kevin McCarthy are reportedly inching closer to a deal over the US debt ceiling.

Tribune News Service

Hopeful tone pervades debt ceiling talks ahead of long weekend

WASHINGTON — Debt limit negotiations on Thursday morning had the feel of a deal starting to come together, with no in-person meetings scheduled but both sides working through various options in advance of the long holiday weekend.

Tribune News Service

Analysis: No longer a ‘broken record,’ White House throws a few elbows with debt messaging

WASHINGTON — “Congress must act.”

Tribune News Service

Leadership dynamics explain why there’s still no debt limit deal

WASHINGTON — Political calculations and concerns about legislative precedent within Congress and the White House have brought the government within a week of potentially failing to pay all of its debt obligations.

ABC News

Mike Cannon-Brookes wins control of Sun Cable project over Andrew 'Twiggy' Forrest, ASX suffers worst weekly performance in two months — as it happened

Billionaire Mike Cannon-Brookes has claimed control of the controversial Sun Cable solar export project in the Northern Territory, while NSW and Victoria enter a "retail recession" according to analysts. Look back on the day's financial news and events as they happened with our blog.

The Guardian - US

Debt ceiling deal within sight as Biden and Republicans continue to negotiate

House adjourned for holiday weekend, but lawmakers could be recalled to vote on deal if agreement is reached

Roll Call

Leadership dynamics explain why there’s still no debt limit deal - Roll Call

Political calculations and concerns about legislative precedent have brought the government to within a week of a potential debt default.

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