Debt ceiling deadline looms with little progress in Washington.

Negotiations between White House and Republican congressional leaders on raising the federal debt ceiling have failed, with no meetings scheduled for Saturday. The U.S. Treasury Department has warned that the federal government could be unable to pay all its debts by June 1, triggering a default that could cause chaos in financial markets and spike interest rates. Democrats have been pushing to hold spending steady at this year's levels, while Republicans want to return to 2022 levels.