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Debt Limit Talks in Standstill as Republicans, White House Face ‘Real Differences’

WASHINGTON — Debt limit talks came to an abrupt standstill Friday after Republican House Speaker Kevin McCarthy said it's time to “pause” negotiations, and a White House official acknowledged there are “real differences” that are making talks difficult. McCarthy said resolution to the standoff is “easy,” if only President Joe Biden...

US Debt Default Expected to Be Far Worse Than a Shutdown. Why They’re Not the Same

All the hand-wringing over a potential government default if Congress doesn't increase the government's $31.4 trillion debt ceiling has conjured up images of past government shutdowns. In shutdowns, "essential” workers — TSA agents and such — showed up, but most federal employees stayed home. Work piled up in offices, and litter piled up in...

McCarthy Says Weekend Debt Deal Needed to Avoid Fiscal Cliff

Negotiators from the White House labored Thursday over the U.S. debt limit with House Speaker Kevin McCarthy's emissaries at the Capitol, grinding through head-to-head talks trying to strike a budget deal to avert a looming economic crisis. With hopes for a breakthrough as soon as this weekend, President Joe Biden and McCarthy tapped their top representatives to...

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