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The Latest Breaking News from Kevin McCarthy

Biden and McCarthy's shared debt ceiling math problem

“It’s one thing to strike a deal, then you got to pass it."

Axios

The ‘dysfunctional’ debt ceiling fight could cause a $12 trillion blow to the American economy if Washington doesn’t get its act together

There have been 78 debt ceiling deals since 1960 and zero failures. Could this time really be different?

Fortune

Debt limit talks halt as Republicans, White House face 'serious differences'

Debt limit talks between the White House and House Republicans stopped, started and stopped again Friday at the US Capitol, a dizzying series of events in high-stakes negotiations to avoid a potentially catastrophic federal default.

France 24

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Debt limit talks resume after optimism curbed by GOP walkout

WASHINGTON — Negotiators resumed talks Friday night to avert a catastrophic U.S. default hours after a Republican walk-out punctured optimism that a debt-limit deal was near and drove down stocks.

Tribune News Service

Debt ceiling deadlock centers on 2024 spending levels

"This kind of a pause is a real problem given the tight timeframe."

Axios

Debt ceiling talks briefly resume as US default deadline creeps closer

Janet Yellen, the treasury secretary, has said that without action the US will cease to be able to pay its debts around 1 June

The Guardian - US

Biden Stays Optimistic About The Debt Ceiling Deal As The Clock Ticks On Negotiations

Stocks plunged showing concerns in regard to the debt ceiling as the president face criticisms from Republicans.

Zenger

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McCarthy puts debt-limit talks on ‘pause’ as clock ticks down

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.

Tribune News Service

Lead Negotiator For Kevin McCarthy Walks Out On Biden Administration Officials

House Speaker Kevin McCarthy's authority to negotiate the debt ceiling is being challenged by Rep. Alexandria Ocasio-Cortez.

Zenger

Republican debt-ceiling negotiators walk out of meeting, say White House ‘unreasonable’

House Speaker Kevin McCarthy’s top debt-ceiling negotiators abruptly left a closed-door meeting with White House representatives soon after it began Friday morning, throwing into doubt the status of talks to avoid a US default.

Tribune News Service

White House: "real differences" in debt talks

Team Biden also wants to signal that a bipartisan compromise is still possible

Axios

Debt talks resume after a snag as the country gets closer to a possible default

Negotiators between the White House and House Speaker Kevin McCarthy's team briefly paused talks on Friday. There's a little more than a week before the country runs out of money to pay its bills.

WEKU

MTG's Biden impeachment "stunt" mocked

MAGA Republicans want to impeach the president while defending "fraudster George Santos," top Democrat says

Salon

Top House negotiator on debt limit says it's time to 'press pause' as talks come to standstill

A top debt ceiling negotiator for House Speaker Kevin McCarthy says it’s time to “press pause” on talks as negotiations with the White House have come to an abrupt standstill at the Capitol

The Independent UK

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Roll Call

Photos of the week ending May 19, 2023 - Roll Call

The debt limit showdown, an attempt to expel Rep. George Santos and a portrait unveiling of former Speaker Paul D. Ryan highlight this week.

Roll Call

'Pause' lifted, debt limit talks back on - Roll Call

Top negotiators for President Joe Biden and Speaker Kevin McCarthy resumed talks Friday evening to lift the nation’s borrowing cap.

The Guardian - US

Negotiating with post-Trump Republicans is like dealing with a toddler’s tantrum

While one side is happy to defecate on the floor, the other side has no choice but to clean up the mess

Axios

Scoop: Janet Yellen’s private debt ceiling warning to Wall Street

Behind closed doors, Yellen says borrowing costs are already rising.

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WEKU

Democrats, worried about a Biden-McCarthy deal, push a backup plan to avoid default

Progressive Democratic lawmakers raised the alarm over comments Biden made earlier this week suggesting he's entertaining possible changes to federal safety net programs.

Los Angeles Times

Jackie Calmes: Why is the climate on the table in the debt ceiling fight?

Lost amid all the attention to the partisan standoff over raising the nation's debt limit is the insanity of a big part of the Republicans' bargaining position: Many of the savings they demand in return for a higher debt ceiling would come from killing the landmark clean energy initiatives President…

Tribune News Service

Noah Feldman: Biden has no power to unilaterally raise the debt ceiling

If Congress fails to raise the debt limit, can President Joe Biden somehow borrow more money to save the United States from default? The short answer is no. But that hasn’t stopped a group of Senate Democrats from urging Biden to act unilaterally by invoking the Fourteenth Amendment.

The Guardian - UK

Tesco chair steps down after allegations of inappropriate behaviour; Rishi Sunak and Akshata Murty lost £200m in a year – as it happened

John Allan to stand down after allegations of inappropriate behaviour, while latest Sunday Times rich list shows first fall in the number of billionaires since financial crisis

The Independent UK

Most say pair debt limit increase with deficit cuts, but few following debate closely: AP-NORC poll

A new poll finds that most U.S. adults say they are highly concerned about the impact on the national economy if the U.S. debt limit is not increased and the government defaults on its loans

Axios

Democratic tensions rise as Biden narrows debt ceiling talks

"There are going to be a lot of Democrats in a really uncomfortable position."

Zenger

Democrats Calling On The Use Of The 14th Amendment If Negotiations With Congress Fail

A group of Democratic Senators plans to urge President Joe Biden to invoke the 14th Amendment to address the debt ceiling crisis.

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