Late on Friday, when talks broke down and fears that the U.S. government wouldn’t have enough money to pay all its debts grew, White House officials and congressional Republicans resumed negotiations over raising the federal debt ceiling.
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. The two sides met for about 90 minutes before breaking and leaving the Capitol but said they would continue working elsewhere through the night.