#GOP, White House resume talks

Republicans and the White House resumed debt ceiling talks on Friday evening after frustrated GOP negotiators hit pause for much of the day.

But a key Republican negotiator is not confident about coming to an agreement this weekend, which Speaker Kevin McCarthy (R-Calif.) has said has to happen to allow legislation to pass through the House and Senate by June 1, the day Treasury Secretary Janet Yellen said the U.S. could default by.

“Just now, we are back in the room. We’ll be back in the room tonight,” McCarthy said on Fox Business on Friday evening. 

“But it is frustrating if they want to come in the room and think we’re going to spend more money next year than the year we did this year,” McCarthy said. “That’s not right and that’s not going to happen.

Earlier in the day, lead GOP negotiator Rep. Garret Graves (La.) emerged from the talks saying that the White House was being “unreasonable.” McCarthy said they had to “pause.”

As McCarthy appeared on the cable network shortly after 6 p.m., the two chief White House negotiators, Office of Management and Budget Director Shalanda Young and senior adviser Steve Ricchetti, entered the negotiating room along with Rep. Patrick McHenry (R-N.C.).

Young and Ricchetti would not comment walking into the meeting.

“At the Speaker’s request we’re going back in and we’re gonna keep talking,” McHenry said in the Capitol.

McHenry said he was “not at all” confident that there would be a framework for a debt limit deal by this weekend. He declined to characterize what the holdup was before.

“We’re going back in, we’re gonna keep talking, the goal is to get a bill that can pass the House and Representatives and the Senate, get signed by the president,” McHenry said.

DEVELOPING.