McCarthy calls for Biden to negotiate on raising debt limit, rather than 'bumble into' the first U.S. default

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“The longer President Biden waits to be sensible, to find agreement [on debt limit], the more likely it becomes that his administration will bumble into the first default in our nation’s history,” House Speaker Kevin McCarthy said.

House Speaker Kevin McCarthy on Monday reiterated his call for President Joe Biden to negotiate over raising the U.S. debt limit, as the California Republican delivered a speech at the New York Stock Exchange.

For months, McCarthy and his fellow Republicans have demanded spending cuts in exchange for raising the ceiling for federal borrowing, while Biden and his fellow Democrats have said the lift should be made without conditions. “Our proposal will also restore work requirements that ensure able-bodied adults without dependents earn a paycheck and learn new skills,” McCarthy said.

“There is one responsible solution to the debt limit: addressing it promptly, without brinksmanship or hostage taking — as Republicans did three times in the last administration and as Presidents Trump and Reagan argued for in office. In fact, in 2019 Donald Trump said, ‘I can’t imagine anybody ever even thinking of using the debt ceiling as a negotiating wager,’” Bates said in a statement.

 

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Where's their formal budget proposal? Unserious Republicans in disarray. 1 year means Wall St and our gov't will be held hostage again next year!

Where's their formal budget proposal? Unserious Republicans in disarray. 1 year means Wall St and our gov't will be held hostage again next year!

Now they want to cut

China Joe is just looking for the next ice cream cone!! 🤦🏼

Insanity.... Every 4 months the debt ceiling raises.... total US debt over 31Trillion.... insanity, debt will destroy !

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