Skip to content
THE OD-ESSEY ONLINE
Menu
  • Home
  • Blog
  • News
  • Categories
  • About
  • Contact
Menu

Whiplash Day of Debt Limit Talks Ends Without a Breakthrough

Posted on May 20, 2023

Whiplash Day of Debt Limit Talks Ends Without a Breakthrough

 

Bipartisan talks between top White House and Republican congressional officials over a deal to raise the debt limit ended without a breakthrough on Friday, capping a day of whiplash as negotiators seeking to avoid the first default in the nation’s history repeatedly started and ended discussions amid growing G.O.P. frustration.

Negotiations came to a halt on Friday morning after Republicans vented anger about discussions on spending caps, and Speaker Kevin McCarthy declared a “pause” to the talks. Just hours later, he announced Republicans’ return to the negotiating table, but the discussions ended after an hour on Friday night, and it was unclear when negotiators planned to meet again.

The series of abrupt turns reflected the unwieldy state of negotiations over a bipartisan deal to avert a debt default that could occur as soon as June 1, coupled with a mounting sense of urgency to find a resolution as Congress runs out of time to avoid the economic calamity that could follow.

By the end of the night, Mr. McCarthy’s top advisers were casting doubt on whether they could achieve a deal by the end of the weekend, a timeline the speaker had said on Thursday he saw “a path” to achieve.

Bipartisan talks between top White House and Republican congressional officials over a deal to raise the debt limit ended without a breakthrough on Friday, capping a day of whiplash as negotiators seeking to avoid the first default in the nation’s history repeatedly started and ended discussions amid growing G.O.P. frustration.

Negotiations came to a halt on Friday morning after Republicans vented anger about discussions on spending caps, and Speaker Kevin McCarthy declared a “pause” to the talks. Just hours later, he announced Republicans’ return to the negotiating table, but the discussions ended after an hour on Friday night, and it was unclear when negotiators planned to meet again.

The series of abrupt turns reflected the unwieldy state of negotiations over a bipartisan deal to avert a debt default that could occur as soon as June 1, coupled with a mounting sense of urgency to find a resolution as Congress runs out of time to avoid the economic calamity that could follow.

By the end of the night, Mr. McCarthy’s top advisers were casting doubt on whether they could achieve a deal by the end of the weekend, a timeline the speaker had said on Thursday he saw “a path” to achieve.

“It’s very frustrating if they want to come into the room and think we’re going to spend more money next year than we did this year,” Mr. McCarthy, a California Republican, said on Fox Business on Friday evening, as he announced that his deputies would return to the negotiating table. “That’s not right, and that’s not going to happen.”

The bill that House Republicans passed last month would raise the nation’s borrowing limit into next year in exchange for freezing spending at last year’s levels for a decade — which would lead to cuts of an average of 18 percent.

 

“We’ve got to get movement by the White House, and we don’t have any movement,” Mr. McCarthy said earlier on Friday, as he announced the initial pause in negotiations. He added: “We can’t be spending more money; we have to spend less than we spent the year before.”

Mr. Biden was checking in regularly with negotiators from Hiroshima, Japan, where he was attending the annual meeting of the Group of 7 major industrial powers, but aides traveling with him sounded less optimistic about a deal in the coming days than they had a day earlier.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Russia-Ukraine War Zelensky Lands in Japan for G7 Summit, Seeking Military Aid
  • Whiplash Day of Debt Limit Talks Ends Without a Breakthrough
  • Are You Sabotaging Your Creativity
  • Jim Brown, Football Great and Civil Rights Champion, Dies at 87
  • Jamaal Bowman Finds His Voice. Some Republicans Don’t Like the Sound.

Gain unlimited access to all of The Times.

Offer for a All Access subscription; current subscribers not eligible. Subscription excludes print edition. For a monthly subscription, your payment method will automatically be charged in advance the introductory rate every 4 weeks for 1 year, and after 1 year the standard rate every 4 weeks. For an annual subscription, your payment method will automatically be charged in advance the introductory rate for 1 year, and after 1 year the standard rate once yearly. Your subscription will continue until you cancel. Cancellation takes effect at the end of your current billing period. Taxes may apply. Offer terms are subject to change. Some benefits, such as access to Wordle, may be available without a subscription.

Home Delivery subscription

News Engage with expert reporting, including culture coverage and analysis. Games Unwind with Spelling Bee, Wordle, The Crossword and more. Learn more Cooking Enjoy delicious recipes, advice and inspiration daily. Learn more Wirecutter Choose products confidently with reviews and real-world testing. Learn more The Athletic Follow in-depth, personalized coverage of your favorite sports.

Contact Us

Need Help? Sorry we weren't able to help you find the answer in the Help Center. You can contact Customer Care for assistance from 7 a.m. to 10 p.m. E.T. Monday through Friday and from 7 a.m. to 3 p.m. E.T. on weekends and U.S. holidays. Still Need Help? Customer support is currently closed, we apologize for the inconvenience. If you still need help, please contact Customer Care during our hours of operation: Monday - Friday 7 a.m. - 10 p.m. E.T. Saturday - Sunday (and U.S. holidays) 7 a.m - 3 p.m. E.T. Chat With Us Currently Unavailable or Call Us (+1 855-698-1157) Currently Unavailable Additional Contact Information If you need help with licensing permissions or international, corporate, or higher education subscriptions select a topic below for assistance. Or, visit our Help Center to learn more about us.

©2023 THE OD-ESSEY ONLINE | Design: Newspaperly WordPress Theme