WASHINGTON (AP) — President Joe Biden said a deal to resolve the government's debt ceiling crisis seemed "very close" late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5 and seemed likely to drag negotiations between the White House and Republicans into another frustrating week.

The later "X-date," laid out in a letter from Treasury Secretary Janet Yellen, set the risk of a devastating default four days later than an earlier estimate. It came as Americans and the world uneasily watched the negotiating brinkmanship that could throw the U.S. economy...