Debt ceiling deadline is extended to June 5, later than previously estimated

Debt ceiling negotiators have hit “crunch” time as they strain to make a deal with the White House to raise the nation’s debt limit, avert default and cut federal spending.

(J. Scott Applewhite via AP) Negotiations on the debt limit continue in the House of Representatives between mediators from the Biden administration and Speaker of the House Kevin McCarthy at the Capitol in Washington.