The House Speaker, Kevin McCarthy, spoke about the looming debt ceiling fight and blasted President Biden for doing nothing to solve it in a recent speech at the New York Stock Exchange. McCarthy attributed the current economic state to the Democrats in Congress, saying they increased the national debt by trillions of dollars and damaged Social Security and Medicare. According to him, record inflation, rising interest rates, supply chain shortages, instability in the banking system, and general uncertainty are all results of careless government spending.
McCarthy stressed the significance of discussing the debt ceiling since it directly impacts everyone's lives in America. He expressed disappointment that since their first encounter, the White House hasn't gotten in touch with him about this issue. A leader cannot manage without negotiating, he claimed, criticizing Vice President Biden for misleading the public and not engaging in negotiations. McCarthy forewarned that Biden's actions would increase China dependence, raise inflation, and jeopardize Medicare and Social Security.
McCarthy noted that Biden's tax-and-spend policy would not be allowed to continue while simultaneously acknowledging that defaulting on the debt was not an option. He declared that House Republicans will take action and issued a warning that a debt limit rise with no conditions attached would not be approved. Raising the debt ceiling, limiting expenditure to 2022 levels, streamlining the bureaucracy, recovering money from useless programs, and expanding the economy to reduce dependence on China are all part of the plan.
McCarthy urged lawmakers and business executives to support the House GOP in pressing the White House for a fair negotiation. He highlighted his belief that reducing government expenditure, conserving tax dollars, and boosting the economy will strengthen America and help safeguard Social Security and Medicare for the next generations. McCarthy encouraged Biden to act, stating that his position would cause the country to go into default.
McCarthy stressed the significance of discussing the debt ceiling since it directly impacts everyone's lives in America. He expressed disappointment that since their first encounter, the White House hasn't gotten in touch with him about this issue. A leader cannot manage without negotiating, he claimed, criticizing Vice President Biden for misleading the public and not engaging in negotiations. McCarthy forewarned that Biden's actions would increase China dependence, raise inflation, and jeopardize Medicare and Social Security.
McCarthy noted that Biden's tax-and-spend policy would not be allowed to continue while simultaneously acknowledging that defaulting on the debt was not an option. He declared that House Republicans will take action and issued a warning that a debt limit rise with no conditions attached would not be approved. Raising the debt ceiling, limiting expenditure to 2022 levels, streamlining the bureaucracy, recovering money from useless programs, and expanding the economy to reduce dependence on China are all part of the plan.
McCarthy urged lawmakers and business executives to support the House GOP in pressing the White House for a fair negotiation. He highlighted his belief that reducing government expenditure, conserving tax dollars, and boosting the economy will strengthen America and help safeguard Social Security and Medicare for the next generations. McCarthy encouraged Biden to act, stating that his position would cause the country to go into default.
