Debt ceiling talks suspended as US lurches towards default deadline

‘We’ve decided to press pause,’ on talks with Biden White House says Republican negotiator as threat of financial crisis looms

Negotiations for a deal to raise the US debt ceiling and thereby avoid a default with potentially catastrophic consequences for the world economy reached a worrying impasse on Friday.

“We’re not there,” Garret Graves of Louisiana, the lead negotiator for House Republicans in talks with the Biden White House, told reporters at the Capitol.