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The two vowed to continue talking amid fears a default on the US government's $31.4 trillion debt ceiling could sink the country's economy.

By David Morgan and Nandita Bose WASHINGTON (Reuters) -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 that could sink the U.S. economy, but vowed to keep talking. The Democratic president and the top congressional Republican 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...

President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement Monday on how to raise the U.S....

House Speaker Kevin McCarthy said he expects to speak with President Joe Biden shortly on negotiations to avert a catastrophic U.S. debt default even as he signaled that talks remain

A second meeting on Friday between White House and Republican congressional negotiators on raising the federal government's $31.4 trillion debt ceiling broke up with no progress cited by either side and no additional meeting set.