Debt negotiations took a downward turn as the White House accused of taking a 'big step' back in rejecting their offer and Speaker said talks were on hold until President returns from . Both sides have accused the other of negotiating in bad faith as the clock ticks toward the June 1st deadline to raise the country's borrowing limit, now at $31 trillion, so the United States can pay its bills. Otherwise it will default on its debt.A war of words commenced over the weekend as meetings between the two negotiating teams were canceled, re-scheduled, only to be canceled again.
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