“US Debt Ceiling Talks Stall: Can Republicans and Democrats Reach a Deal Before Running Out of Money?”

One of the negotiators on behalf of the Republicans, Patrick McHenry, indicated that neither side is confident that the goal of reaching an agreement this weekend will be met. Earlier in the day, Republicans even suspended talks, according to Republican Speaker of the House Kevin McCarthy because of “frustrations that this White House won’t acknowledge that they’re overspending,” he said. Fox Business.

President Joe Biden, through his spokesman from Japan, said that despite the “significant division”, he is confident that the parties can come together.

Without a political agreement, the US will run out of money around June 1. Then the country has borrowed the maximum amount that Congress allows, after which this institution has to raise the bar again. This is usually a routine job in the US, but tensions between Republicans and Democrats make it increasingly difficult.