- Debt-limit negotiations hit an impasse as Republican negotiators walk out of meeting with White House officials.
- House Speaker Kevin McCarthy blames the White House for resisting spending cuts.
- Republicans have been pressing for sweeping spending cuts and regulatory changes that Democrats have opposed.
- The setback weighed on Wall Street where shares slid on the news.
- President Joe Biden will cut short his trip to the Group of seven summit in Japan as he urges his negotiators to keep pursuing a debt-limit deal.
Republican Debt-Ceiling Negotiators Walk Out of Meeting, Say White House ‘Unreasonable’
Debt-limit negotiations hit an impasse Friday as House Speaker Kevin McCarthy blamed the White House for resisting spending cuts, casting doubt on efforts in Washington to avert a catastrophic default.
Billy House
