Biden, Republicans Postpone US Debt Negotiation

However, House Speaker Kevin McCarthy, a Republican, disagreed, accusing Democrats, including Senate Democratic Minority Leader Chuck Schumer, of delaying a deal.

“Biden and Senator Schumer are stuck at No, they don’t have a plan, no savings proposals, no leads,” McCarthy told reporters shortly after the White House announced that the talks had been postponed.

Biden “apparently doesn’t want a deal, he wants the debt defaulted,” he added.

The two parties remain sharply divided on the debt ceiling, with Republicans insisting that Biden agree to cut budgets in exchange for supporting increased debt before the country runs out of money to pay its bills.