Debt talks resume after a snag as the country gets closer to a possible default

Debt talks resume after a snag as the country gets closer to a possible default WASHINGTON, D.C. and HIROSHIMA, Japan — As debt negotiations between the White House and House Speaker Kevin McCarthy's team drew to a close Friday evening, uncertainty remained as to whether the players could reach a deal to avoid an unprecedented default. The talks resumed after a temporary stalemate Friday afternoon. President Biden, who is attending the G-7 summit in Hiroshima, Japan, told reporters on Saturday that he's "not at all" concerned about the state of talks. "I still believe we'll be able to avoid a default, and we'll get something decent done," Biden said. Republican Louisiana Rep. Garret Graves, whom McCarthy tapped to lead the talks along with other senior staff, told reporters that Friday night's meeting "wasn't a negotiation" but a "candid discussion about realistic numbers, a realistic path forward, and something that truly changes the trajectory of this country's spending and debt problem." Graves told reporters on Capitol Hill on Friday that the team "reengaged" at McCarthy's direction.