The White House noted on Friday that there are "real contradictions" in ongoing talks to avoid defaulting on U.S. debt payments.
The move comes as President Joe Biden is in Japan for the G7 summit. Biden is canceling a planned continuation of the trip after the meeting to return to Washington DC and the negotiations.
But even leading Republicans have a very dark view of efforts to find a compromise between the Republicans who control the House of Representatives and the Democrats with power in the Senate and the White House.
Time for a break
Republican Congressman Garret Graves says it's time to pause negotiations on the U.S. debt ceiling.
"It's time to press the pause button because the talks are simply not going anywhere," he told reporters in Washington.
As recently as Wednesday, Republican House Speaker Kevin McCarthy thought a deal could be in place this week. But according to Graves, negotiations between Democrats and Republicans have been "unreasonable" and it is unclear when they can resume again.
Warning of consequences
The US Congress must decide to raise the debt ceiling in order to be able to borrow more money and thus be able to pay the amortization and amortization of loans.
The political process of raising the debt ceiling recurs periodically, but so far the US has avoided defaulting on debt payments.
The U.S. Treasury Department has warned of "catastrophic" consequences if the U.S. were unable to pay its bills, which would, among other things, make the country unable to pay salaries to public employees and likely trigger a rise in interest rates — which would also shake up financial markets worldwide.