WASHINGTON (KERO) — House Speaker Kevin Mccarthy is scheduled to meet with President Joe Biden on Wednesday to address the United States reaching its $31.4 trillion debt limit.
The meeting comes after two dozen Senate Republicans sent a letter to President Biden saying they will not back a debt ceiling increase without at least equal spending reductions imposed.
The president responded with a message for the GOP and Speaker McCarthy.
“Show me your budget, I’ll show you mine.”
On Sunday, McCarthy said that as far as cuts to medicare and social security, he wanted to "take those off the table."
Earlier this month, 23ABC's Mike Hart sat down with McCarthy for an interview. During the interview, McCarthy said that any default on the debt wouldn't come until June, giving the two sides time to eliminate the waste, which he believes can be done.
"Our government is designed to find compromise. Let's find compromise," said McCarthy. "Can anyone say there's not waste in government? I mean, for the President to say 'I won't even negotiate about this.' Well, every state, every county, every city, every household has to."
"The first thing you have to do is start producing a budget so you know how you're spending," continued McCarthy. "The Democrats didn't do that and the really sad part is when the Democrats were all in power, they increased spending by 30 percent. So I know there's places we can find common ground and eliminate the waste for the hardworking American that's paying those taxes."
President Biden pointed out that Congress raised the debt ceiling three times under former President Trump without consideration. The two are scheduled to meet tomorrow.
