House GOP and White House end debt ceiling discussion for the day.

Debt Ceiling Negotiations: House GOP and White House Have ‘Candid Discussion’

After nearly two hours of talks on the debt ceiling, negotiators from the House GOP and White House ended their meeting on Friday night. Rep. Garret Graves (R-LA), chief negotiator for Speaker Kevin McCarthy (R-CA), described the meeting as a “candid discussion” about “realistic numbers and a realistic path forward” on the country’s spending and debt problems.

Who Was in the Room?

Graves was joined by Chairman of the House Financial Service Committee Patrick McHenry (R-NC), while the White House was represented by Shalanda Young, director of the Office of Management and Budget, Steve Ricchetti, senior adviser to the president, and Louisa Terrell, director of the White House Office of Legislative Affairs.

While Graves spoke to reporters after the meeting, Terrell, Ricchetti, and Young declined to answer questions. McHenry expressed his lack of confidence in reaching a deal with the White House by the end of the weekend, and Friday night’s talks did not improve his confidence.

What’s Next?

The two House negotiators will brief McCarthy on the meeting, and talks will resume at a later time. Negotiations were paused earlier in the day because they were “not productive,” according to Graves.

Treasury Secretary Janet Yellen has warned that the country will default on its debt by June 1 if a deal is not reached and passed by both chambers of Congress.

McCarthy has emphasized the need to spend less than the previous year, regardless of the compromise reached on the debt ceiling.

Stay tuned for updates on the ongoing negotiations.