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Debt Limit Duel Between Biden and McCarthy

President Joe Biden and House Speaker Kevin McCarthy are scheduled to meet in the Oval Office on Wednesday to discuss the national debt limit and budget cuts. Biden said he would tell McCarthy, "Show me your budget, and I'll show you mine."

Joe Biden and Kevin McCarthy
Joe Biden and Kevin McCarthy

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.

Speaker of the United States House of Representatives, Kevin McCarthy
Speaker of the United States House of Representatives, Kevin McCarthy

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.

Photographs of Biden and McCarthy meeting at a dinner table
Photographs of Biden and McCarthy meeting at a dinner table

McCarthy's Response

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's Support

Senate Minority Leader Mitch McConnell has expressed support for the meeting between Biden and McCarthy and hopes they can reach a mutually beneficial agreement.

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