The Latest Breaking News from Kevin McCarthy

The White House called the McCarthy's counter-offer a "a big step back."

WASHINGTON — President Joe Biden directed his aides to schedule a call on Sunday with House Speaker Kevin McCarthy, after the top Republican accused the White House of backtracking in talks on raising the U.S. debt limit.

U.S. debt limit negotiators aren’t planning to meet on Saturday, according to people with knowledge of the matter, as the White House accused Republicans of being unwilling to negotiate.

Debt ceiling talks between the White House and Congress as the stock market plunges and the oil prices increases.

U.S. debt limit negotiators aren’t planning to meet on Saturday, according to people with knowledge of the matter, as the White House accused Republicans of being unwilling to negotiate.

Debt limit talks between the White House and House Republicans stopped, started and stopped again heading into a weekend where President Joe Biden and world leaders watched from afar, hoping high-stakes negotiations would make progress on avoiding a potentially catastrophic federal default

President Joe Biden downplayed fresh concerns that tensions in U.S. debt limit negotiations could lead to a catastrophic U.S. default, saying Republicans and Democrats will still be able to reach an agreement.

The US has raised its debt ceiling limit multiple times in the last decade up to $13.4 trillion but a deal must be struck before the end of the month to avoid default which could spark a terrible recession

“It’s one thing to strike a deal, then you got to pass it."

There have been 78 debt ceiling deals since 1960 and zero failures. Could this time really be different?

Debt limit talks between the White House and House Republicans stopped, started and stopped again Friday at the US Capitol, a dizzying series of events in high-stakes negotiations to avoid a potentially catastrophic federal default.