US Representatives meet for a third day to try to elect a new Speaker of the House on Capitol Hill in Washington
by David Lawder
WASHINGTON (Reuters) – House of Representatives Speaker Kevin McCarthy said he would meet with President Joe Biden on Wednesday to discuss raising the federal debt ceiling while controlling government spending, adding that Republicans will not would not allow a default of payment by the United States.
“I know the president said he doesn’t want to have discussions. But I think it’s very important that our whole government is designed to find a compromise,” he said on Sunday during from CBS’ “Face the Nation”.
“I want to find a sensible and responsible way to raise the debt ceiling (and) get this spending spree under control,” McCarthy added.
The U.S. Treasury this month activated extraordinary cash management measures for the country to avoid exceeding the $31.4 trillion federal debt limit imposed by Congress.
But without a hike in that limit by early June, the Treasury said it could run out of cash to pay government bills, raising the biggest default threat since a debt ceiling stalemate in 2011.
“There will be no default,” Kevin McCarthy said. “But what’s really irresponsible is what the Democrats are doing right now, saying you should just raise the limit.”
A White House spokesman declined to comment, but a presidential office official familiar with the proposed meeting confirmed the Wednesday date. Joe Biden previously pledged to discuss debt with Kevin McCarthy, but the White House has said it will not negotiate raising the ceiling.
Biden administration officials touted the planned meeting with the Speaker of the House of Representatives as an opportunity to develop the “working relationship” between the two leaders.
Kevin McCarthy and other Republicans in both the House of Representatives and the Senate have said they would not support raising the debt ceiling without budget cuts or spending reforms.
(Report by David Lawder, French version Benjamin Mallet)
