https://sputniknews.com/20230125/us-mccarthy-calls-bidens-refusal-to-negotiate-state-debt-ceiling-irresponsible-1106676540.html
US’s McCarthy calls Biden’s refusal to negotiate public debt ceiling ‘irresponsible’
US’s McCarthy calls Biden’s refusal to negotiate public debt ceiling ‘irresponsible’
Speaker of the United States House of Representatives Kevin McCarthy on Wednesday called President Joe Biden’s refusal to discuss the state debt ceiling “irresponsible” and warned that a delay in negotiations would increase the financial risks for the United States.
2023-01-25T07:47+0000
2023-01-25T07:47+0000
2023-01-25T07:47+0000
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Kevin McCarthy
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According to the White House, Biden is expected to hold a meeting soon with McCarthy to convince the Republican-majority lower house of Congress to approve additional spending despite their calls for budget cuts. The Speaker of the House also called US government debt exceeding $31 trillion or 120% of gross domestic product (GDP) “America’s greatest threat” and said he was not not completely against the decision to increase state spending, but that he advocated for a “responsible” debt ceiling. Earlier this month, US Treasury Secretary Janet Yellen warned that the United States would soon reach its outstanding debt limit, with the US national debt now standing at $31.46 trillion. Last week, the Treasury said it had begun taking extraordinary steps to avoid a public debt default by temporarily suspending payments not immediately needed for essential programs.
https://sputniknews.com/20230125/us-debt-ceiling-outserved-its-purpose-can-be-abandoned-to-stimulate-growth-experts-claim-1106672573.html
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american debt, debt ceiling, joe biden, kevin mccarthy, debt ceiling negotiations
american debt, debt ceiling, joe biden, kevin mccarthy, debt ceiling negotiations
WASHINGTON (Sputnik) – Speaker of the United States House of Representatives Kevin McCarthy on Wednesday called President Joe Biden’s refusal to discuss the state debt ceiling “irresponsible” and warned that a delay in the negotiations would increase the financial risks for the United States.
According to the White House, Biden is expected to hold a meeting soon with McCarthy to convince the Republican-majority lower house of Congress to approve additional spending despite their calls for budget cuts.
“For the president – he said he won’t even negotiate – it’s irresponsible. We’re going to be responsible, we’re going to be reasonable and we’re going to do it together. So the longer he waits, the more fiscal peril he puts on America… We should sit down and do this and stop playing politics,” McCarthy told reporters during a briefing.
The Speaker of the House also called US government debt exceeding $31 trillion or 120% of gross domestic product (GDP) “America’s greatest threat” and said he was not not completely against the decision to increase state spending, but that he advocated for a “responsible” debt ceiling.
“But here’s the leader of the free world, banging on a table, being irresponsible and saying, ‘No, no, no, just raise the limit, make us spend more! No, that’s not how adults act. That’s not how elected officials … act,” McCarthy said.
US debt ceiling overshot and can be scrapped to boost growth, experts say
Earlier this month, US Treasury Secretary Janet Yellen warned that the United States would soon reach its outstanding debt limit, with the US national debt now standing at $31.46 trillion. Last week, the Treasury said it had begun taking extraordinary steps to avoid a public debt default by temporarily suspending payments not immediately needed for essential programs.
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