the u.s. inching closer to running out of money to pay its debts. a deadline is as close as 12 days away, but the high-stakes negotiations between the white house and republicans have collapsed and it is not clear when face to face talks will resume. meanwhile, president biden will cut short his asia trip to address the debt crisis. before heading home tomorrow from the g-7 summit in japan, biden will meet with ukraine s president. president zelenskyy is making a dramatic appearance at the gathering to ask world leaders for help in the war against russia. russia claims a major victory in ukraine. today the head of the mercenary wagner group says his fighters have captured bakhmut after months of brutal fighting, but ukraine says it still holds a small portion of the city. cnn s phil mattingly is at the summit in japan. let s begin with the debt crisis. a u.s. default would of course hurt economies around the world. so what is the level of concern there and where do things sta
- [announcer] do you have an invention idea but don t know what to do next? call invent help today. they can help you get started with your idea. call now 800-710-0020. you are in the cnn newsroom. i m paula reed in washington. jim acosta has the day off. it is 5:00 p.m. at the white house, and we are now one hour closer to the nation potentially defaulting on its debt. that would be unprecedented and potentially catastrophic for the global economy. now, despite a deadline as close as 12 days away, the high-stakes negotiations between the white house and congressional republicans have broken down, and it s not clear when they might resume. a u.s. debt default would affect economies around the world, so the concerns have loomed over the g7 summit in hiroshima, japan. the president, however, says he s not concerned at all. it goes in stages, and what happens is the first meetings weren t all that progressive. the second ones were. third one was. and then what happens is t