I would rather default than cut spending
House Speaker Kevin McCarthy (R-CA) slammed President Joe Biden amid debt ceiling talks and accused the president of preferring the United States to default on its debts rather than reduce federal spending.
“President Biden doesn’t think there’s a single dollar of savings to be found in the federal government’s budget,” McCarthy said. tweeted Saturday night. “He’d rather be the first president in history to default on debt than risk upsetting the radical socialists who are in charge of the Democrats right now.”
Treasury Secretary Janet Yellen has warned that the United States will hit its debt limit as early as June 1.
For months, Biden refused to negotiate with House Republicans on the debt ceiling. The president changed his mind after House Republicans rallied with President McCarthy to pass the Limit, Save, Grow Act, which would raise the debt ceiling through early next year and allow the government save about $4.8 trillion over the next ten years.
Debt ceiling negotiations between Biden and congressional leaders have been ongoing for nearly two weeks. However, Biden’s White House is “backing down in negotiations,” according to McCarthy.
“The White House is backing down in negotiations”, McCarthy tweeted. “Unfortunately, the socialist wing of the Democratic Party seems to be in charge, especially with President Biden out of the country.”
The White House backs down in negotiations.
Unfortunately, the socialist wing of the Democratic Party seems to be in charge, especially with President Biden out of the country.
— Kevin McCarthy (@SpeakerMcCarthy) May 20, 2023
Biden left the country to attend the G-7 summit in Hiroshima earlier this week. Although he cut short his trip, he will not return to the United States to resume negotiations until Sunday.
Biden’s decision to take a trip abroad within two weeks of a potential default may have hurt his reputation with the American public.
A recent survey found that 33% of Americans blame Biden for the lack of a debt ceiling deal, while only 27% blame House Republicans.
Jordan Dixon-Hamilton is a reporter for Breitbart News. Write to him at email@example.com or follow him on Twitter.