Negotiators met briefly in the Capitol on Friday before breaking up, and as of right now, there are no more meetings scheduled for the day. This setback dashes hopes that there could be a deal in principle by this weekend. McCarthy confirmed that talks have paused, saying there’s not enough “movement” from the White House and suggested that spending levels are part of the issue. “We’ve got to get movement by the White House.
Time is of the essence and pressure is building to raise the borrowing limit ahead of June 1, which is the earliest date the Treasury Department says the government could be unable to pay its bills. If the US were to default, it would likely trigger a global economic catastrophe. GOP Rep. Garret Graves, who is leading negotiations for House Republicans, left a brief meeting with negotiators in the morning saying the situation was “not productive.
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