House Speaker Kevin McCarthy on Sunday accused U.S. President Joe Biden of succumbing to far-left progressives in the Democratic Party over the debt ceiling talks.
During an appearance on FoxNewsMcCarthy called Biden’s trip to the G-7 summit in Japan a turning point for the debt discussion after the president mentioned the ongoing debate in Hiroshima.
On Sunday, Biden said he was “flawless” in the talks and accused Republicans in MAGA of derailing the talks and undermining his re-election campaign.
“Now the president, even though he was abroad, thought about changing places… I don’t understand that. For 97 days he ignored me. We were well placed. He’s going overseas and now he wants to change the debate,” McCarthy said.
‘It’s not healthy. We still have to pass a bill in the House and Senate, and we only have 11 days to get there,” he continued, warning of a default.
Congress must either raise or suspend the debt ceiling by June 1 or the United States may not be able to repay its current debts, Treasury Secretary Janet Yellen has previously said.
House Speaker Kevin McCarthy on Sunday accused US President Joe Biden of succumbing to far-left progressive ideals by entertaining the idea of raising the debt ceiling
During an appearance on FOX News, McCarthy called Biden’s trip to the G-7 summit in Japan a turning point for debt talks as Congress runs out of time to pass a bill.
During his speech in Hiroshima, Biden blamed “MAGA Republicans” for the collapse of debt talks.
He said they were looking to undermine and derail his re-election efforts in 2024.
‘Basically, based on what I offered, I would be faultless. Politically, no one would be beyond reproach. And by the way, it’s one of the, one of the things that some [people] are considering. Well, I have to be careful here,’ Biden said.
“I think there are MAGA Republicans in the House who know the damage this would do to the economy and because I am president and presidents are responsible for everything, Biden would take responsibility for it. And that’s the only way to make sure Biden isn’t re-elected,’ the president continued.
That statement drew a strong response from the Republican House Speaker who said Biden had now changed course in the discussion.
“The president really changed right after the more progressive socialist wing of the party stood up and said they wanted to spend more money,” McCarthy said.
“He now brings something to the table that everyone said was not on the table. It seems he wants a default more than he wants a deal. That’s not where I am, and the only thing you know… about me, Maria [Bartiromo}, I will never give up.’
Mcarthy said he still believes the issue can be solved in a way that appeases everyone.
‘We can solve this problem and make our economy stronger,’ he continued.
‘Curve inflation and be less dependent on China and really focus on American problems with American solutions,’ the House Speaker continued.
President Joe Biden opened the door to using 14th amendment to solving debt crisis
That hope may be long gone, however, as some Democrats have recently urged Biden to utilize the 14th Amendment.
The 14th Amendment would allow Biden to bypass congressional negotiations so that he does not have to haggle with his Republican counterparts.
‘The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned,’ the 14th Amendment states.
The legality of this issue is still under speculation as many law experts have said they are skeptical about Biden’s ability to singlehandedly raise the debt ceiling.
Biden seemingly acknowledged that during his speech in Japan and said he would let the appeals process make the final decision.
‘We have more money coming in to the coffers than at any time in history,’ McCarthy said on Sunday morning.
‘The real challenge is our spending, Our spending, on average for the last 50 years has been about 21%. Well, in FY 22, after the Democrats have taken over, we’re roughly over 24% of GDP, so it’s a sheer spending problem,’ the Speaker continued.
