WASHINGTON (AP) Debt limit talks resumed at the U.S. Capitol late Friday, a sudden turnaround after negotiations came to an abrupt standstill earlier in the day when Republican House Speaker Kevin McCarthy said its time to pause negotiations, and a White House official acknowledged there are real differences.

A White House official confirmed late Friday the talks were back on. The official was granted anonymity to discuss the private discussions.

Earlier in the day, McCarthy said resolution to the standoff is easy, if only Democratic President Joe Biden s team would agree to some spending cuts Republicans are demanding. The biggest impasse was over the fiscal 2024 top-line budget amount, according to another person briefed on the talks and granted anonymity to discuss them. Democrats staunchly oppose the steep reductions Republicans have put on the table as potentially harmful to Americans.

Weve got to get movement by the White House and we dont have any movement yet, McCarthy, R-Calif., told reporters at the Capitol. So, yeah, weve got to pause.

A White House official who was granted anonymity Friday to discuss the private conversations said there are real differences between the parties on the budget issues and further talks will be difficult.

The official added that the presidents team is working hard towards a reasonable bipartisan solution that can pass both the House and the Senate.

Bidens administration is racing to strike a deal with Republicans led by McCarthy as the nation careens toward a potentially catastrophic debt default if the government fails to increase the borrowing limit, now at $31 trillion, to keep paying the nations bills.

Wall Street turned lower as negotiations on raising the nations debt limit came to a sudden halt, raising worries that the country could edge closer to risking a highly damaging default on U.S. government debt.

The president who has been in Japan attending the Group of Seven summit had no immediate comment. Biden had already planned to cut short the rest of his trip and he is expected to return to Washington later Sunday.

White House press secretary Karine Jean-Pierre said Biden planned to be briefed on the negotiations by his team Friday evening. Biden had departed early from a Friday night dinner with G7 leaders in Hiroshima.

Negotiators met Friday for a third day behind closed doors at the Capitol with hopes of settling on an agreement this weekend before possible House votes next week. They face a looming deadline as soon as June 1 when the Treasury Department has said it will run out of cash to pay the governments incurred debt.