House Speaker Kevin McCarthy says debt ceiling talks stalled

WASHINGTON, D.C. – Republican congressional legislators and the White House are continuing to seek an agreement to raise the debt ceiling.

The U.S. risks a default and economic catastrophe if Congress fails to raise the borrowing limit by the June 1 deadline.

House Speaker Kevin McCarthy said on Friday that there is currently no movement despite being optimistic about the negotiations a day prior.

“Well we’ve got to get movement from the White House, we don’t have any movement so yeah, we gotta pause,” House Speaker Kevin McCarthy (R-CA) said. “Yeah, I mean yesterday I really felt we were at a location where I could see the path but the White House is just…we can’t be spending more money next year, we have to spend less than we spent the year before. It’s pretty easy.”