Joe Biden slams Kevin McCarthy’s debt plan as deadline looms | USA TODAY

Speaker Kevin McCarthy called for negotiations to raise the debt ceiling by $1.5 trillion as President Joe Biden slams the Republican plan.

RELATED: What happens if the US hits the debt ceiling? Here's what we know

Earlier this year, House Speaker Kevin McCarthy and President Joe Biden seemed to agree they wouldn't negotiate the debt ceiling and federal spending fight in the press. This week has undoubtedly shown a shift in strategy.

McCarthy spoke to reporters and Wall Street CEOs Monday at the New York Stock Exchange, where he said House Republicans will lift the debt limit if Biden agrees to spending cuts. He vowed he would not let the U.S. default on its obligations, such as Social Security payments and military paychecks, and blamed the president for the ongoing showdown. Biden, striking back Tuesday, accused McCarthy of threatening to become the first speaker to default.

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  2. Here’s a picture of Kevin McCarthy and the rest of the Republicans🐀💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩💩

  3. I am a Philosopher means to seek knowledge and wisdom. I hope The Democratic keep calling The Republicans out on their Shenanigans. Ask Google do The Republicans want to cut , The Social Programs that benefit the poor people.

  4. Like sitting around the kitchen table arguing over whether to pay the electric bill. Then the room goes dark.

  5. Cut the politicians pay, get rid of special interests projects, force the rich to pay their taxes, and quit bailing out other countries.

  6. The US is sinking into a debt hole from which it is impossible to get out. The imminent decline of the dollar financial system can’t be understimated. The most likely scenario for further developments is the gradual depreciation of the US currency due to hyperinflation. The official expenditures of the US federal budget for 2022 should amount to 6 trillion dollars with revenues of only 4,2 trillion dollars. It turns out that the annual budget deficit is 1,8 trillion dollars, so US budget spending is skyrocketing. The US has been living in debt for a long time and many believe that the US will be able to borrow as much money from the FED as they want. However, it is not, earlier due to low inflation and low interest rates the US could borrow at low interest rates, now they will have to repay debts at a rate several times higher.

  7. Taxes are paid quarterly. If they only spend what they receive, they have enough without raising debt limit. They have to prioritize spending on obligations & defense and everywhere else will have cuts. We can live with that.

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