Debt ceiling negotiations and Biden's presidency in the balance.

1 min read
Source: Reuters
Debt ceiling negotiations and Biden's presidency in the balance.
Photo: Reuters
TL;DR Summary

White House and Republican negotiators will resume talks on Tuesday to resolve the impasse over raising the government's $31.4 trillion debt ceiling, with the nation facing the risk of default in as soon as nine days. The two parties remain deeply divided about how to rein in the federal deficit, with Democrats arguing wealthy Americans and businesses should pay more taxes while Republicans wanting spending cuts. Any deal to raise the limit must pass both chambers of Congress, and therefore hinges on bipartisan support.

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