House Majority Leader Kevin McCarthy is calling on his fellow Republicans to remain steadfast in the ongoing debt ceiling negotiations. McCarthy communicated his message directly to the GOP in a recent meeting, according to journalist Jake Sherman, making it clear that a deal is currently not within reach.
In an apparent leak from the meeting, McCarthy was quoted as saying, “I need you all to hang with me on the debt limit. We are nowhere near a deal yet.”
McCarthy further clarified the GOP’s position during his address, saying, “I told the president three things: No clean debt limit, no raising taxes, spend less money.” His demands emphasize the Republican Party’s commitment to limiting government spending, reducing the national debt, and preventing tax hikes – for now, at least.
“I told the president three things: No clean debt limit, no raising taxes, spend less money.
“Remember where we were – they refused to negotiate .
“We owe Garret Graves and Patrick McHenry a round of applause.
“They made a mistake to not negotiate. Let's stay strong…
— Jake Sherman (@JakeSherman) May 23, 2023
On Monday, McCarthy had a meeting with Joe Biden to negotiate on raising the US debt ceiling, but they did not reach an agreement. McCarthy stated that the meeting was “productive” and that both sides agreed on the areas of disagreement.
McCarthy didn’t shy away from criticizing the Democrats’ handling of the situation, reportedly noting, “Remember where we were – they refused to negotiate.” He continued, “They made a mistake to not negotiate. Let’s stay strong together.”
His comments underscored the GOP’s criticism of the Democrats’ approach to the debt ceiling, which Republicans have portrayed as intransigent and uncooperative.
The debt ceiling, which is the limit on the amount of national debt that can be incurred by the federal government, is a contentious issue in Washington. Republicans have been arguing that raising the debt ceiling without corresponding cuts in government spending is irresponsible and could lead to future economic instability.
Democrats, on the other hand, maintain that failing to raise the debt ceiling could lead to a potentially catastrophic default on U.S. government debt.
McCarthy also insisted that a deal needs to be reached this week.
Treasury Secretary Janet Yellen has warned Congress that they have limited time left to address the debt ceiling to avoid the country’s first-ever default. Several other analysts have echoed Yellen’s forecast that the so-called X-date – when the nation would default – could arrive in early June.