Congress Debt Limit

Negotiations on the debt limit continue in the House of Representatives between mediators from the Biden administration and Speaker of the House Kevin McCarthy, R-Calif., at the Capitol in Washington, Wednesday, May 24, 2023.

WASHINGTON — House Republicans pushed debt ceiling talks to the brink Thursday, displaying risky political bravado in leaving town for the holiday weekend just days before the U.S. could face an unprecedented default hurling the global economy into chaos.

At the Capitol, Speaker Kevin McCarthy said “every hour matters” in talks with President Joe Biden’s team as they try to work out a budget agreement. Republican are demanding spending cuts the Democrats oppose as their price for raising the legal debt limit.

“We’ve been talking to the White House all day,” McCarthy, R-Calif., told reporters as he left the Capitol for the evening, with his top negotiators soon to follow. “We’re working hard to make it happen.”

Recommended for you