Biden, Speaker McCarthy to Convene Over US Debt Later This Week


Meanwhile, the Biden administration is showing zero willingness to negotiate. This thereby brings into question how much progress one can realistically expect from Wednesday’s meeting.

The White House has already gone on record claiming that it’s not amenable to negotiations pertaining to the increase of the debt ceiling.

Though without any sort of compromise – and with Congress evenly split between Republicans controlling the House and Democrats controlling the Senate – gridlock could lead to a default on the debt.

In additional statements, McCarthy told the media that passing a budget is imperative. However, the House Speaker also stressed the levels of spending that triggered America’s current inflation crisis cannot proceed.

More from the White House on Wednesday’s meeting

The Biden administration claims moving up the debt ceiling is something US leaders remain “obligated” to do in order to avoid economic disaster.

White House press secretary Karine Jean-Pierre also said when Biden meets with McCarthy this week, he’ll be open to discussing a variety of issues.