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HIROSHIMA, Japan (AP) — President Joe Biden said Sunday that Republicans in the U.S. House must move off their "extreme positions" on the now-stalled talks over raising America's debt limit and that there would be no agreement to avert a catastrophic default only on their terms.
Biden and House Speaker Kevin McCarthy, R-Calif., were expected to talk later Sunday.
GOP lawmakers are holding tight to demands for sharp spending cuts, rejecting the alternatives proposed by the White House for reducing deficits.
For months, Biden had refused to engage in talks over the debt limit, insisting that Congress was trying to use the borrowing limit vote as leverage to extract other policy priorities.
But with the U.S. Treasury Department saying that it could run out of cash as soon as June 1 and Republicans putting their own legislation on the table, the White House launched talks on a budget deal that could accompany an increase in the debt limit.