Debt ceiling standoff sparks political tension and economic concerns.

Debt ceiling negotiations between the White House and Republicans have broken down as the deadline for a potential default approaches. The impasse came as both sides sharpened their rhetoric, with White House aides accusing the GOP of working in bad faith and threatening the financial stability and credit of the nation. Republicans rejected a White House offer to limit spending on both defense and a series of domestic programs, instead pushing for increased military spending, which would require deeper cuts to a series of domestic spending programs that the White House has deemed off limits. With the deadline less than two weeks away, talks are unlikely to resume until President Joe Biden returns from Asia late Sunday night.