McCarthy hopes to negotiate concessions from Democrats on spending cuts by leveraging the need to raise the debt ceiling.
No Use of US Credit as Bargaining Chip
President Biden has stated that he will not let anyone use the full faith and credit of the US as a bargaining chip. He emphasized the importance of paying US debts.
Compromise Needed to Balance Debt
McCarthy expressed optimism about the upcoming meeting with President Biden. He hopes to find a compromise to balance the debt without jeopardizing it. The speaker believes that the government is designed to find compromise and that the meeting with the president is crucial.
