America has reached its statutory debt ceiling and Treasury chief Janet Yellen repeatedly has warned there needs to be a change by June 1 or the government could run out of options to pay its bills on time.
Republicans in the U.S. House already have adopted a plan that would raise that ceiling as required.
But it also would line up spending cuts for some parts of the Biden administration, and the president simply refuses to go along.
He did send representatives to negotiate with House Speaker Kevin McCarthy, after promising he never would negotiate.
But even those talks appear to have hit a speech bump.
The Washington Examiner reports that Rep. Garret Graves, R-La., McCarthy's chief negotiator, walked out of the discussions Friday.
"Until people are willing to have reasonable conversations about how you can actually move forward and do the right thing, then we’re not going to sit here and talk to ourselves," Graves told reporters, according to the report.
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He said the talks have not been productive and negotiations are on pause.
The White House admitted, "There are real differences between the parties on budget issues and talks will be difficult."
Rep. Patrick McHenry, R-N.C., said, in the Examiner report, that, "We're at a difficult moment, and we've got some very serious problems. We're not at a sufficient moment for this package to meet the expectations the speaker set for us."
A new report from Just the News reveals that Americans are lining up with McCarthy, who insists spending is out of control and cuts need to be established.
In fact, the Biden administration has gone wild with spending, with bills adding up to trillions.
Biden has claimed repeatedly that he actually has "cut" the deficit, but that fails to consider that spending had exploded with the various relief programs set up during COVID, and the deficit reduction was solely because those programs were expiring.
Actually, Biden's spending would have surged the deficit expect for those COVID changes.
Just the News cited a poll showing about six in 10 U.S. adults want any increase in the debt ceiling "to be coupled with a plan to reduce the federal budget deficit."
The Associated Press-NORC Center for Public Affairs Research poll also revealed some two-thirds of respondents "are highly concerned about the impact on the national economy if the debt limit is not increased and the government defaults on its loans."
A coalition of Democrats has been urging Biden to simply declare a change in the debt ceiling.
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