Mr McCarthy will be one of the key congressional leaders to meet the president this week.
The president has repeatedly highlighted that, under his administration, the country’s federal deficit has fallen. However, there is still a gap between government spending and revenue, and this will need to be funded by increased borrowing. Democrats and the White House have argued that Republicans were offering the country two “terrible choices” – either legislation that would result in devastating cuts or an enormously damaging debt default.
Mr Biden said on Friday the Republican plan would put 21 million people at risk of losing Medicaid and see a reduction of 28,000 personnel in law enforcement as well as cutting 100,000 teachers and support staff.
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