U.S. debt ceiling: Critical deadline to avoid default looms

U.S. President Joe Biden and Republican lawmakers are still working to hash out a deal on raising the country’s debt ceiling, which must be negotiated by June 1 to avoid a default that could trigger a global financial crisis. Jackson Proskow explains what’s stalling talks between the two parties, and what’s at stake.

• As debt ceiling deadline nears, White House accused of ‘lack of urgency’
• Biden to meet McCarthy on Monday as debt ceiling deadline nears