House Speaker Kevin McCarthy, R-Calif., replied to the president’s jab on Monday that he’ll display his price range if McCarthy displays his.
“For the president to say he doesn’t want to negotiate something this large… When you think back to 2011, when he was vice president, they even called the negotiations over the debt ceiling, the Biden negotiations,” McCarthy stated on “The Bottom Line” Monday night.
“I mean, to think that the president believes there’s no place in government you can’t cut and have a savings for the hardworking taxpayers?” the speaker persevered. “There’s so much waste out there, and we’ve got to put ourselves back on a trajectory that balances.”
Earlier this month, the U.S. bumped up towards the debt ceiling, which is recently round $31.4 trillion, forcing the Treasury Department to deploy “extraordinary measures” to make sure that the federal government can proceed to pay its expenses.
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When approached via newshounds forward in their bipartisan assembly on Wednesday, President Biden had despatched a message to the House Speaker: “Show me your budget, and I’ll show you mine.”
Reacting to Biden’s remarks, McCarthy expressed his plans to speak about a balanced price range in-person with the president, arguing “every family does it, every business, every state, every county.”
“We need to sit down together, find common ground, find where we can eliminate the waste, and let’s put our country back on a path where we can balance and get our future brighter than before,” McCarthy stated. “We’re going to work very closely together, and I think you’re going to find us more united than ever before.”
The Biden management has drawn a crimson line at cuts to Social Security and Medicare, with White House spokesperson Andrew Bates accusing Republicans of seeking to reduce “vital lifelines for the middle class that Americans pay into throughout their lives.”
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“For years, congressional Republicans have advocated for slashing earned benefits using Washington code words like ‘strengthen,’ when their policies would privatize Medicare and Social Security, raise the retirement age, or cut benefits,” Bates stated in a remark.
Congress final voted to boost the debt ceiling in December 2021. Treasury Secretary Janet Yellen projected that the federal government pays its expenses thru early June.
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FOX Business’ Paul Best contributed to this file.