The ongoing struggle of debt ceiling negotiations.

Negotiations between Republicans and the White House to raise the debt ceiling are at a standstill, with a significant gap between the two sides. Republicans want to cut spending and cap annual growth, while the White House is still talking about reducing the deficit by closing tax loopholes and raising taxes on billionaires. Treasury Secretary Janet Yellen has warned that the U.S. could default on its debt as early as June 1, putting significant pressure on lawmakers to come to an agreement on a compromise bill. Any deal will need to have bipartisan support to pass both chambers of Congress.