No Debt Ceiling Agreement In U.S.

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USA – U.S. President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement Monday on how to raise the U.S. Government’s $31.4 trillion debt ceiling with just 10 days before a possible default.

The two have vowed to keep talking to avoid a possible sinking of the U.S. economy.

Democrats and republicans have struggled to make a deal, as McCarthy pressures the white house to agree to spending cuts in the federal budget that Biden considers “Extreme,” and the president pushes new taxes that republicans have rejected.