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Speaker of the Assembly McCarthy to Meet President Biden

House Speaker Kevin McCarthy will meet with President Biden on Wednesday to discuss the debt ceiling and spending cuts.

Speaker of the Assembly Kevin Owen McCarthy
Speaker of the Assembly Kevin Owen McCarthy

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.