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White House officials and congressional Republicans resumed negotiations over the federal debt ceiling late Friday, hours after a breakdown in talks sent shudders through the financial system and intensified fears that the U.S. government would run short of cash to pay all its bills.
With the risk of default looming in just two weeks, House Speaker Kevin McCarthy (R-Calif.) told Fox Business late Friday that he was calling negotiators back to the Capitol. GOP officials had abruptly walked out of negotiations on Friday morning, complaining that they had made little progress in persuading the White House to accept significant cuts to federal spending, a key Republican demand. A White House official, who spoke on the condition of anonymity to describe administration planning, confirmed that negotiators would resume talks Friday night.
If the U.S. defaults, see what payments are at risk.
The White House and congressional Republicans are at odds over multiple…
This article was written by Jeff Stein and originally published on www.washingtonpost.com