President Biden posed a problem to Home Speaker Kevin McCarthy on Monday amid rising tensions surrounding the talk over elevating the federal debt ceiling: “Present me your funds and I will present you mine.”
Biden made the remarks whereas responding to a query from CNN about what his message to McCarthy could be throughout the upcoming assembly between the 2, anticipated to be held Wednesday on the White Home.
McCarthy said the discussions would revolve round growing the debt ceiling, which Treasury Secretary Janet Yellen stated had been reached on Thursday.
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Home Speaker Kevin McCarthy (left) and President Joe Biden (proper).
(AP)
“President Biden: I settle for your invitation to take a seat down and focus on a accountable debt ceiling enhance to deal with irresponsible authorities spending,” McCarthy tweeted Friday afternoon. “I look ahead to our assembly.”
On the identical day, Biden confirmed to Politico that the dialogue could be in regards to the debt, nonetheless a White Home official later insisted the assembly could be a “normal” one and never debt ceiling-specific.
The official repeated the administration’s beforehand said place that the debt ceiling was “not a negotiation.”
U.S. Treasury Secretary Janet Yellen speaks throughout a gathering with Zambia’s President Hakainde Hichilema on the State Home in Lusaka, Zambia, Jan. 23, 2023.
(AP Photograph/Salim Dawood)
Final week, Republican senators insisted Biden “will negotiate” on the debt ceiling, with Sen. Ted Cruz, R-Texas, calling the president’s anti-negotiating stance “unreasonable and ridiculous.”
The rising U.S. nationwide debt stands at $31.4 trillion whereas the federal authorities’s annual funds is presently working at $6.3 trillion, almost $2 trillion greater than what it spent yearly previous to the coronavirus pandemic.
White House press secretary Karine Jean-Pierre was requested earlier this month about debt ceiling negotiations and whether or not Biden is keen to “minimize any spending” or could be keen to barter with Republicans who “wish to minimize spending as a part of a debt restrict deal.”
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Sen. Ted Cruz, R-Texas, stands alongside his fellow Republican senators at a press convention addressing the nationwide debt on Wednesday, January 25, 2023.
(Fox Enterprise)
“Look, as you’ve heard us say earlier than, we won’t be doing any negotiation over the debt ceiling,” Jean-Pierre stated.
Fox Companies’ Brie Stimson and Peter Kasperowicz contributed to this report.