Speaker Kevin McCarthy held a unique press conference featuring members of both the House and Senate Republican Conference on Wednesday to urge President Biden to negotiate a responsible debt limit increase before the 15-day deadline to avoid being the first President to default on the national debt.
McCarthy criticized Biden for not sitting down to negotiate earlier, but stated that Republicans in the House and Senate are united to prevent a Biden default and stand with the American people.
The Backstory: The Speaker of the House and Republicans from both the House and Senate held a special bicameral press conference to address the issue of the debt ceiling.
- The Speaker had a meeting with the President on February 1st to discuss working on the debt ceiling, but the President refused to negotiate for 104 days until Republicans in the House and Senate united to listen to the American public.
- They raised the debt ceiling, but also implemented a plan called Limit, Save, and Grow to limit future spending, save taxpayers money, and grow the economy.
- The President and Leader Schumer have finally backed off their idea of just raising the debt ceiling and have agreed to negotiate with Republicans. The Speaker is optimistic about working together to change the course of history and stand for the American public.
What they’re saying: “We finally got the President to sign a bill declaring the pandemic is over. You know what else, let’s grow our economy so we’re not dependent upon China.”
- “Yesterday, united with the Republicans in the House and the Republicans in the Senate who stood up and said they would no longer go along with the idea that you would just raise the debt limit and borrow money for China to provide to people not to work.”
- “A debt ceiling is the equivalent of your child having a credit card. And for the last 21 years, this child has spent all the money up to the limit and all you have done is raise the debt ceiling. Well. now. it’s become a real problem. Because you owe more on the card than you make all year, and another 20%.”
- “I’m optimistic for America because the people standing behind me. I’m optimistic of our ability to work together. Do we have obstacles? Yes, we have a big obstacle in the White House. But we’re going to change the course of history, because we’re going to stand for the American public.”