Joe Biden slams Kevin McCarthy's debt plan as deadline looms | USA TODAY

Speaker Kevin McCarthy called for negotiations to raise the debt ceiling by $1.5 trillion as President Joe Biden slams the Republican plan.

Earlier this year, House Speaker Kevin McCarthy and President Joe Biden seemed to agree they wouldn't negotiate the debt ceiling and federal spending fight in the press. This week has undoubtedly shown a shift in strategy.

McCarthy spoke to reporters and Wall Street CEOs Monday at the New York Stock Exchange, where he said House Republicans will lift the debt limit if Biden agrees to spending cuts. He vowed he would not let the U.S. default on its obligations, such as Social Security payments and military paychecks, and blamed the president for the ongoing showdown. Biden, striking back Tuesday, accused McCarthy of threatening to become the first speaker to default.

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#Biden #Politics #Economy

[chessdad]

Like sitting around the kitchen table arguing over whether to pay the electric bill. Then the room goes dark.

[leemudd]

Republicans be like “stop spending Joe we are trying to limit the money working class people get and give our wealthy friends more money!”

[RandyR]

Cut the politicians pay, get rid of special interests projects, force the rich to pay their taxes, and quit bailing out other countries.

[miken]

Taxes are paid quarterly. If they only spend what they receive, they have enough without raising debt limit. They have to prioritize spending on obligations & defense and everywhere else will have cuts. We can live with that.

[ǾœœǾ]

The US is sinking into a debt hole from which it is impossible to get out. The imminent decline of the dollar financial system can't be understimated. The most likely scenario for further developments is the gradual depreciation of the US currency due to hyperinflation. The official expenditures of the US federal budget for 2022 should amount to 6 trillion dollars with revenues of only 4, 2 trillion dollars. It turns out that the annual budget deficit is 1, 8 trillion dollars, so US budget spending is skyrocketing. The US has been living in debt for a long time and many believe that the US will be able to borrow as much money from the FED as they want. However, it is not, earlier due to low inflation and low interest rates the US could borrow at low interest rates, now they will have to repay debts at a rate several times higher.

[GoodbyeKamala]

nuf said. This administration has put a serious f'n to all of us.😠😠😡😡

[lillianhall]

Playing with the clowns is a set back we the people don't need no cutbacks he needs to get cut off now and out this is not a joke

[julietirado]

Kevin all you do is own the Mouth Nothing else where is your proposal what is your plan???

[Don_ECHOguy]

McCarthy wants to default and blame the other guy. Lock Him Up! 🔒

[mlb]

King Brandon sits down and discuss costs of spending billions with Ukraine and other foreign countries but Alzehimer's take control when its all about America. Harris promised $60 mil per African nation if they see things her way But sit down and discuss OPM (Other People's Money) on behalf of American taxpayers, all of a sudden Bramdon experiences Alheimer's and Dementia episode in budget and debt items. He never forgets to blame Trump though
GOP did well to keep the ball rolling. Americans are in need of a President and VP.

[Missy-Missy]

The poor will be the losers of this deplorable unnecessary battle.

[patrickkelly]

RULE #1 - YOU "DO NOT" NEGOTIATE WITH BLACKMAILERS AND EXTORTIONISTS!

[mariamartinez]

The President has all the rights like trump did

[bobbymeyerti]

Here’s a picture of Kevin McCarthy and the rest of the

[darlenerenick]

McCarthy lost this bill hope he loses his JOB . Biden needs TOO VETO

[charlenemocksing]

I feel this president wants to do the worst for this country, not better. Unbelievable.

[marcmalonzo]

This is the biggest government in the history of the world. We need a smaller government that will serve the people.