Negotiations to Raise Debt Ceiling Stall as Lead GOP Negotiator Accuses Biden Administration of Being “Unreasonable

Negotiations between the White House and House Speaker Kevin McCarthy to raise the debt ceiling have stalled, with the lead GOP negotiator accusing the Biden administration of being “unreasonable.”

Rep. Garret Graves, R-La, who was tapped by House Speaker Kevin McCarthy to lead the negotiations with White House staff, said Friday that talks had been paused due to lack of progress. He declined to comment on details of the negotiations, but said the administration was being “unreasonable” as the clock ticks to the June 1 deadline set by the Treasury Department to act or risk a calamitous default on U.S. debt.

“We decided to press pause because it’s just not productive,” said Graves. He added that the decision was made to take a pause “because it’s just not productive” and “they’re just unreasonable.”

The potential debt default at the end of the month could have disastrous consequences for the U.S. economy. The White House and Republican negotiators are under pressure to reach a deal before the June 1 deadline.

It is unclear at this time what the next steps will be in the negotiations. It is also unclear if the two sides will be able to come to an agreement before the deadline. It is important that both sides come to an agreement in order to avoid a potentially catastrophic default on U.S. debt.