House lawmakers Thursday evening left the Capitol for the holiday weekend without a deal on the debt ceiling.
Joe Biden waited 97 days to engage in debt ceiling talks with House Speaker McCarthy and other congressional leaders.
The White House is facing a June 1 deadline.
House Republicans passed a debt ceiling resolution in April but the White House is blaming the looming default on the GOP.
House Speaker Kevin McCarthy on Thursday evening left the Capitol and told reporters “there’s no agreement” after meetings on the debt ceiling.
“We’ve been talking to the White House all day, we’re going back and forth, and it’s not easy,” Kevin McCarthy said. “We want to make sure this is an agreement worthy of the American people, and so it takes a while to make it happen and we’re working hard to make it happen.”
“There’s no agreement. This is a big issue and it’s not something we could solve easily,” McCarthy said.
MCCARTHY said negotiators will “continue to work until we get this done.”
— Jake Sherman (@JakeSherman) May 25, 2023
Earlier Thursday McCarthy told reporters: “I am not going to give up. I will stay with it until we solve the Democrats’ spending addiction.”
I am not going to give up. I will stay with it until we solve the Democrats’ spending addiction. pic.twitter.com/441byue8Vx
— Kevin McCarthy (@SpeakerMcCarthy) May 25, 2023
White House Press Secretary Karine Jean-Pierre on Wednesday said if the US goes into default, there will be a recession and millions of jobs lost
“This is a manufactured crisis, plain and simple…That’s what we’ve been dealing with…Just listen to members of the House Freedom Caucus,” Karine Jean-Pierre said.
She added, “What is at stake? A default would have catastrophic impacts in every single part of this country whether you are in a red state or in a blue state…we are talking about millions of jobs lost, devastated retirement accounts and a recession!”