Biden's Efforts to Break Debt-Limit Impasse with McCarthy After G7 Summit

Talks between President Biden and Speaker Kevin McCarthy on raising the US borrowing limit have stalled due to disagreements over spending caps, work requirements, and new Republican proposals. While both sides have found some agreement, they remain far apart on key issues, including how much to spend overall next fiscal year on discretionary programs and how to divide that spending between the military and other programs. The two men were set to speak by phone on Sunday in hopes of re-energizing the sputtering talks, after a weekend in which Republican leaders and White House officials have traded accusations from half a world away.