McCarthy is not optimistic about the debt ceiling negotiations, saying “there is no movement.”
House Speaker Kevin McCarthy, R-California, on Monday was not optimistic about the state of negotiations with the White House on the debt ceiling, saying “there is no movement.”
“I appreciate that after 97 days, the President is finally ready for talks,” the spokesman told reporters in the Capitol. “But there is no movement.”
UNITED STATES – APRIL 20: House Speaker Kevin McCarthy, R-California, is seen in the US Capitol before a press conference Thursday, April 20 on the House of Representatives’ Protection of Women and Girls in Sports Act” passed. 2023. (Tom Williams/CQ-Roll Call, Inc via Getty Images) (Tom Williams/CQ-Roll Call, Inc via Getty Images)
“If you look at the timeline to get something passed in the House and Senate, you have to get something done by this week, and we’re nowhere near that,” McCarthy added.
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The speaker said he first approached President Biden about the debt in February, and at this point staff are just passing on ideas.
When asked by a reporter if he was confident a resolution would be found by the end of the week, McCarthy replied that he wasn’t based on what the White House is currently offering.
WASHINGTON, DC – MAY 9: US Senate Minority Leader Mitch McConnell (R-KY), House Speaker Kevin McCarthy (R-CA), President Joe Biden and Senate Majority Leader Chuck Schumer (D-NY ), meet in the Oval Office of the White House on May 9, 2023 in Washington, DC. Congressmen met with the President to negotiate how to address the debt ceiling ahead of June 1, when US Treasury Secretary Janet Yellen warned Congress that the United States would default on its debt. (Photo by Anna Moneymaker/Getty Images)
The speaker was critical of talks with the President about the country’s debt.
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Last week, Biden, McCarthy and other leaders agreed to hold staff-level talks on how to raise the debt ceiling before the administration is unable to meet its current obligations by early June. The White House made it clear that it wanted to separate talks on the debt ceiling from talks on spending cuts.
Last Thursday, McCarthy blamed Biden for the lack of progress on a deal that would allow the government to borrow more money once it hits the debt ceiling in June.
President Biden has said he will not negotiate the debt ceiling with McCarthy and the Republicans. (AP Photo/J. Scott Applewhite / Carolyn Kaster, File)
McCarthy and other congressional leaders were then scheduled to meet with Biden on Friday to reach an agreement to raise the credit limit and meet Republican demands for federal spending cuts. However, the meeting was postponed to next week. McCarthy said the delay was due to the White House not moving.
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But for now, McCarthy’s focus is on avoiding a default.
He explained that there is a bill raising the debt ceiling aimed at strengthening the economy and restraining spending.
“We should be able to come together together,” McCarthy said. “Unfortunately, we had to wait 97 days to get into a room and reach an agreement.”
He went on to say there are COVID funds that have not been spent in two years, adding that this should not be a negotiating point given the work demands associated with that money.
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“There are Democrats who have proposed the idea of capping future funding. That doesn’t mean you’ll make cuts. It just means it’s only going to grow 1%,” McCarthy said. “These are not difficult decisions. That’s why I’m so scared. We sat and talked and you can’t make a decision with common sense.”