White House's Stance on Debt Limit Negotiations
The White House has previously stated that it will not negotiate with Republicans on the debt limit; however, Biden has recently suggested that he is open to talking. The president is expected to ask McCarthy two questions during the meeting to gauge his stance on debt limit negotiations.
McCarthy's Views on Budget Cuts and Debt Limit
McCarthy has previously stated that he is willing to sit with Biden and negotiate on budget cuts in exchange for Republican support to lift the debt ceiling. He has expressed his commitment to negotiating for the American people but has also stated that he is not interested in political games. McCarthy has also expressed that any Social Security and Medicare cuts would be "off the table."
White House's Challenge to McCarthy
Biden's top economic adviser, Brian Deese, and the director of the White House budget office, Shalanda Young, have challenged McCarthy to release a budget so that the American people can see the House Republicans' plans for reducing the deficit and controlling government spending.
McCarthy responded that he was not interested in political games and that he would be coming to negotiate for the American people. He has pointed to the "Commitment to America" plan presented by Republicans before the midterms, which he says "strengthens" Medicare and Social Security.
Senate Minority Leader Mitch McConnell has expressed support for the meeting between Biden and McCarthy and hopes they can reach a mutually beneficial agreement.