Skip to main content
Tags: Biden | Debt

White House to McCarthy: No Negotiations on Debt Limit

White House to McCarthy: No Negotiations on Debt Limit
(AP)

Friday, 20 January 2023 08:45 PM EST

The White House said Friday that President Joe Biden “looks forward” to sitting down with new House Speaker Kevin McCarthy to discuss a range of topics, including perhaps the thorniest challenge confronting Washington this year: raising the nation's debt limit.

One hitch: That statement came with no actual invitation to the White House, and no date nor time for a meeting.

Rather, the White House again emphasized that Biden is not willing to entertain policy concessions in exchange for lifting the debt limit, which is the nation's borrowing authority. The U.S. bumped up against that limit Thursday, and the Treasury Department has deployed “extraordinary measures” to stave off default for at least a few more months.

“Like the president has said many times, raising the debt ceiling is not a negotiation; it is an obligation of this country and its leaders to avoid economic chaos,” White House press secretary Karine Jean-Pierre said in the statement released Friday evening. “Congress has always done it, and the president expects them to do their duty once again. That is not negotiable.”

The top two Democrats in Congress, Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries, both of New York, will meet with Biden on Tuesday, the White House said.

McCarthy, R-Calif., and his new majority in the House have said they will push changes, such as overhauls to entitlement programs, in order for Congress to raise the debt limit. The promise revived the prospects of a major fiscal standoff like the one in summer 2011, which prompted the first downgrade on a portion of the federal government’s AAA bond rating by Standard & Poor's.

“President Biden: I accept your invitation to sit down and discuss a responsible debt ceiling increase to address irresponsible government spending,” McCarthy said on Twitter earlier Friday, after Jean-Pierre said at a press briefing that she had no meeting date between Biden and the new speaker to share.

On the Republican proposals, Jean-Pierre said, “The President looks forward to learning more about those plans.”

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Politics
The White House said Friday that President Joe Biden "looks forward" to sitting down with new House Speaker Kevin McCarthy to discuss a range of topics, including perhaps the thorniest challenge confronting Washington this year: raising the nation's debt limit.One hitch:...
Biden, Debt
338
2023-45-20
Friday, 20 January 2023 08:45 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved