House Speaker McCarthy Warns of “Biden Default”

( – House Speaker Kevin McCarthy is laying the responsibility for tackling the nation’s debt at President Biden’s feet.

The two have sparred numerous times in the press this spring about the debt crisis, and the possibilities for averting it. McCarthy wants to temporarily raise the debt ceiling. Biden has refused to meet with McCarthy over the top, saying the U.S. debt ceiling is “non-negotiable.”

Now, McCarthy says that if the U.S. reneges on its debt it will be “the Biden default.”

“God forbid you get a Biden default because he ignores the problem,” McCarthy said on May 17th at a press event. He accused the President of ignoring the surging numbers of immigrants trying to get into the U.S. and said he worries Biden will take the same approach to a U.S. bankruptcy.

Despite his prior refusal, however, Biden has now met with McCarthy twice to talk about the debt ceiling, the most recent meeting occurring on May 16th.

Republicans and Democrats have been at a stalemate, with the GOP, led by McCarthy, wanting to temporarily raise the nation’s borrowing limit. But along with that, Republicans want a cap on discretionary government spending at 2022 levels. Democrats have said this is not acceptable.

But sentiment may be changing. Senate Majority Leader Chuck Schumer said “Hopefully we can come to an agreement,” and said a “bipartisan bill” would be the only way to avoid a debt default.

Democrats may be softening on tying welfare benefits to work, too. McCarthy said he won’t back down on tying work to welfare as part of the debt ceiling bargaining. House Democrats do not approve of the idea, but President Biden said over the weekend that he voted in the past for tougher work-for-benefits measures, but that the Medicaid program is different (Medicaid is taxpayer-funded health insurance for the poor).

The U.S. has $31 trillion dollars in outstanding debt, which is almost 30 percent higher than the country’s gross domestic product for 2022.

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