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Saturday, January 28, 2023
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Biden Says He Will Not Negotiate to Lift the Debt Limit

'McCarthy and his new majority in the House have said they will push changes, such as overhauls to entitlement programs, in order for Congress to raise the debt limit...'

(Headline USA) The White House said Friday that President Joe Biden “looks forward” to sitting down with new House Speaker Kevin McCarthy to discuss a range of topics, including perhaps the thorniest challenge confronting Washington this year: raising the nation’s debt limit.

One hitch: That statement came with no actual invitation to the White House, and no date nor time for a meeting.

Rather, the White House again emphasized that Biden is not willing to entertain policy concessions in exchange for lifting the debt limit, which is the nation’s borrowing authority.

The U.S. bumped up against that limit Thursday, and the Treasury Department has deployed “extraordinary measures” to stave off default for at least a few more months.

The top two Democrats in Congress, Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries, both of New York, will meet with Biden on Tuesday, the White House said.

McCarthy, R-Calif., and his new majority in the House have said they will push changes, such as overhauls to entitlement programs, in order for Congress to raise the debt limit.

The Republican promise revived the prospects of a major fiscal standoff and reform.
“President Biden: I accept your invitation to sit down and discuss a responsible debt ceiling increase to address irresponsible government spending,” McCarthy said on Twitter earlier Friday.

Adapted from reporting by the Associated Press

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