McCarthy says Biden would rather default on debt than upset 'socialists'

, saying he would rather be the first United States president to default on the debt than make spending cuts.

The White House and the Republican-led House of Representatives have remained locked in a stalemate for weeks over a deal to raise the debt ceiling, leaving both sides in a difficult position as theHouse Speaker Kevin McCarthy answers questions during a press conference at the U.S. Capitol on January 09, 2020 in Washington, DC. President Joe Biden delivers remarks on the debt ceiling at the White House on May 09, 2023 in Washington, DC.

With the nation's debt topping $31.5 trillion, many members of the GOP-controlled House have held firm in their stance that raising the debt ceiling without budget cuts

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