The Zillow analysis comes amid a prolonged standoff over the debt limit.
is now hosting near-daily talks with Republicans as Washington races to strike a budget agreement before the pivotal June deadline. House Speaker Kevin McCarthy, R-Calif., struck a more optimistic tone on Monday after the latest round of talks with the president, indicating that negotiators have narrowed their focus to a smaller group of key issues in order to strike a compromise.
"We’re getting closer. Don't give up on us," McCarthy told reporters on Monday, adding a "circle" of issues is becoming "smaller, smaller, smaller."Biden likewise called the meeting "productive," and signaled that talks would continue in coming days. "We reiterated once again that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement," the president said in a statementGET FOX BUSINESS ON THE GO BY CLICKING HERE
If the U.S. failed to raise or suspend the debt limit, it would eventually have to temporarily default on some of its obligations, which could have serious negative economic implications. Interest rates would likely spike, and demand for Treasurys would drop; even the threat of default can cause borrowing costs to increase, according to the Committee for a Responsible Federal Budget.refused to pass a debt-ceiling increase, prompting rating agency Standard and Poor's to downgrade the U.S.
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