Negotiators plan to continue efforts to reach agreement over Memorial Day holiday as 1 June deadline creeps closer

The US House adjourned on Thursday for the Memorial Day holiday weekend without any deal reached on the debt ceiling, as America creeps closer to a potential default that could wreak havoc on the economy and global markets.

Lawmakers left Washington for their home districts as advisers to the House speaker, Republican Kevin McCarthy, and members of the Biden administration continued to haggle over the details of a deal to raise the debt ceiling and limit government spending.

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