House Speaker McCarthy throws cold water on faltering debt ceiling negotiations

Mr. McCarthy’s comments come hours after President Joe Biden struck a more optimistic note about striking a deal with Republicans.on Twitter. “Unfortunately, the socialist wing of the Democrat Party appears to be in control—especially with President Biden out of the country.”

Mr. Biden earlier in the day dismissed the idea that the two sides would not be able to overcome the current impasse. “Not at all,” Mr. Biden told reporters on the sidelines of the G-7 summit in Japan after he was asked whether he was concerned about the negotiations falling apart. “I still believe we’ll be able to avoid a default and get something decent done,” he said.

Mr. McCarthy’s take, however, suggested the two sides remain at loggerheads over various issues, running from work requirements for welfare to caps on future spending growth and budget cuts. Negotiators are facing a June 1 deadline to raise the nation’s borrowing limit of $31.4 trillion, or the U.S. will default on some of its obligations.

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