McCarthy tells Biden need to make a call on debt negotiations: ‘Timeline is very short’
Jack Birle
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House Speaker Kevin McCarthy (R-CA) says that President Joe Biden needs to make a call on debt ceiling negotiations as the deadline to prevent the United States from defaulting on its debt rapidly approaches.
McCarthy said Biden needs to have someone from the administration negotiate directly with him while on CNBC’s Squawk Box on Wednesday.
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“The President should appoint either himself or people from his administration to negotiate directly with myself,” McCarthy said. “The challenge here is the president waited 104 days until he came to this conclusion.”
The House speaker acknowledged that the White House has agreed to negotiate but stressed that there is not an abundance of time before the U.S. is set to default if the debt ceiling is not raised.
“The problem is the timeline is very short, but Republicans are the only ones who have passed a bill, the Limit, Save, and Grow Act to raise the debt ceiling and actually make the economy stronger,” McCarthy said.
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McCarthy, Biden, and other congressional leaders met at the White House on Tuesday as negotiations continue on the debt ceiling, even as Biden travels to Japan on Wednesday to a meeting of the G-7.
Treasury Secretary Janet Yellen said the U.S. will likely default on its debts by June 1 if the debt ceiling is not raised, making for a quick deadline for Congress and the White House.