HomeTop U.S. NewsLittle Progress in Debt Ceiling Talks as New Negotiators Recruited

Little Progress in Debt Ceiling Talks as New Negotiators Recruited

Democrats and Republicans agreed on Tuesday afternoon to follow a new structure for their ongoing debt ceiling talks. While an agreement on the approach has been reached, little headway has been made with regard to the deal that they are seeking to conclude in an effort to avoid a potential default on June 1.

“We’ve got a lot of work to do in a short amount of time,” House Speaker Kevin McCarthy admitted, before adding, “It’s possible to get a deal by the end of the week.”

Now, the debt ceiling talks with be handled by a smaller group of White House officials; a move that is expected to result in less room for friction and a more easily organized process.

In response to the approaching deadline, the White House decided to cut short President Joe Biden’s upcoming trip to Japan, Papua New Guinea, and Australia, canceling the latter two stops. Biden will stop in Hiroshima for a G7 meeting, leaving on Thursday before returning on Sunday so as to be present for the discussions in Congress.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...