Debt limit talks start, stop as Republicans, White House face 'serious differences'

WASHINGTON (AP) — Debt limit talks between the White House and House Republicans stopped, started and stopped again Friday at the U.S. Capitol, a dizzying series of events in high-stakes negotiations to avoid a potentially catastrophic federal default.

President Joe Biden’s administration is reaching for a deal with Republicans led by House Speaker Kevin McCarthy as the nation faces a deadline as soon as June 1 to raise the country's borrowing limit, now at $31 trillion, to keep paying the nation’s bills. Republicans are demanding steep spending cuts the Democrats oppose.

Negotiations came to an abrupt standstill earlier in the day when McCarthy said it’s time to “pause” talks. But the negotiating teams convened again in the evening only to quickly call it quits for the night.

The president, who has been in Japan attending the Group of Seven summit, had no immediate public comment. But White House press secretary Karine Jean-Pierre said Biden was “still optimistic” that a deal could be reached.

“The president is confident there is a path forward,” said Jean-Pierre, but she acknowledged the difficulty of negotiations. “There’s no question we have serious differences.”

Top Republican negotiators for McCarthy said after the evening session that they were uncertain on next steps, though it's likely discussions will resume over the weekend. The White House publicly expressed optimism that a resolution could be reached if parties neg...