President Joe Biden is leading the U.S. into an economic disaster and has been "MIA" on debt ceiling legislation, Senate Minority Leader Mitch McConnell, R-Ky., said Wednesday during a Senate floor speech where he encouraged the White House to negotiate with House Speaker Kevin McCarthy on a proposal to raise the debt ceiling through 2024 and slash government spending.

"Firstly, the president said he would not negotiate unless Speaker McCarthy and House Republicans passed their own bill, so they did," McConnell said.

But the "Senate Majority offers plenty of angry noises and zero plan. [So], the president has two options. Endorse the responsible bill that House Republicans have already passed and instruct Senate Republicans not to block it in this chamber or finally sit down with Speaker McCarthy and reach an agreement.

"The Speaker of the House has been sitting at the grown-ups table for months waiting for President Biden like a leader. Whatever president Biden and Speaker McCarthy can both agree to will pass the Senate easily. Any bill that doesn't meet that description appears to have no chance, so I'm glad president Biden has begun backing down and finally invited the speaker to begin negotiating. I accept his invitation to join the meeting myself, but I'll continue to lend my support to the speaker."

McConnell, who in 2011 negotiated a deal with then-Vice President Biden to raise the debt limit, will be in the room when Biden and McCarthy sit down together Tuesday to discuss the GOP proposal.

But he told reporters Wednesday that he does not want to have much of a role in the talks.

"In this situation, and I've been a through a few of these debt-ceiling dramas, there is no solution in the Senate. We have divided government. The American people gave the Republicans the House, the Democrats have the presidency. The president and the Speaker need to reach an agreement to get us past this impasse," he said.

"That's my message going down to the White House meeting. It will be my message in the White House meeting and I think that's clearly the way we get to a solution," he added.

• Dems Lack GOP Votes for Clean Debt Ceiling Bill
• Rep. Burchett to Newsmax: We Need to Be Responsible About Debt Ceiling