WASHINGTON, May 19 (Reuters) - U.S. House Republicans and President Joe Biden's Democratic administration on Friday paused talks on raising the federal government's $31.4 trillion debt ceiling, rattling financial markets as the deadline to avoid default ticked closer. Talks at the Capitol broke up around midday, and there was no immediate word on when they would resume. A White House official said: "There are real differences between the parties on budget issues and talks will be difficult. Biden and McCarthy spent most of the year in an impasse with the White House insisting on a "clean" increase in the debt ceiling without conditions. Young and Ricchetti told reporters they were going to play it "by ear" as they departed the negotiating sessions, according to reporters for NBC News and ABC News.

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