President Joe Biden assured that he and House Speaker Kevin McCarthy would "treat each other with respect" in the wake of initial debt ceiling negotiations.
Seated beside McCarthy at the National Prayer Breakfast on Thursday in Washington, D.C., Biden struck an upbeat tone over Wednesday's meeting with the California Republican during his opening remarks.
"Let's just sort of, kind of, join hands again a little bit. Let's start treating each other with respect. That's what Kevin and I are going to do," Biden said. "Not a joke. We had a good meeting yesterday. I think we got to do it across the board. It doesn't mean we're going to agree and fight like hell. But let's treat each other with respect."
The president later clarified that it "doesn't mean we've got to agree," encouraging both sides to "fight like hell. But let's treat each other with respect."
His comments arrive after McCarthy signaled Wednesday that he was also optimistic "that at the end of the day, we can find common ground." However, the speaker acknowledged strings would likely be attached.
"We want to make sure we do this in a responsible, reasonable way, and we'll be talking again," McCarthy stated, adding that he and Biden "have different perspectives on this, but I thought it was a good meeting. We promised we would continue the conversation."
Treasury Secretary Janet Yellen has warned of a catastrophic financial crisis that could rock the U.S. economy if the debt ceiling is not raised from the current $31.4 trillion by early June.
"Of course, it makes me nervous," Yellen told Axios while visiting Johannesburg, South Africa. "It would be devastating. It's a catastrophe.
"The president and the leadership of Congress are responsible to find a way to get the debt ceiling raised."
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