Debt limit standoff brings tough talk, little action as Biden, world leaders watch for progress

Debt limit talks between the White House and House Speaker Kevin McCarthy hung over the weekend with tough talk but little action. President Joe Biden and world leaders watched from afar, hoping high-stakes negotiations would make progress on avoiding a potentially catastrophic federal default. In a sign of a renewed bargaining session, food was brought to the negotiating room at the Capitol on Saturday morning, only to be carted away hours later. The White House said McCarthy's latest offer took a “big step back.” McCarthy said it was the White House that was “moving backward.” Talks could resume Sunday. Biden is attending a meeting of global leaders in Japan and on Saturday he tried to reassure them that the United States would not default.