Debt ceiling negotiations are not expected to happen on Saturday as House Republicans and the White House are at an impasse on a compromise package to raise the debt ceiling.
Chairman of the House Financial Services Committee Patrick McHenry (R-NC) told Reuters on Saturday that there would not be negotiations and they were going to “huddle as a team.”
SENATE ADJOURNS FOR RECESS AS BIDEN-MCCARTHY DEBT LIMIT ROW HITS CRITICAL IMPASSE
Negotiators met for nearly two hours on Friday night, and as they were leaving the Capitol, the speaker’s chief negotiator, Rep. Garret Graves (R-LA), said the meeting was not a negotiation, but it was a “candid discussion” about where they were.
The negotiations on the debt ceiling started to fall apart on Friday morning, with Graves calling them “unproductive.”
McCarthy and his team want to spend less this year than they did last year, something the White House does not seem to want to do.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
“We can’t be spending more money next year,” McCarthy told reporters Friday. “We have to spend less than the year before. It’s pretty easy.”
The deadline to raise the debt ceiling is June 1, according to Treasury Secretary Janet Yellen.
