Kevin McCarthy says he's meeting with Biden on WEDNESDAY amid debt ceiling ... trends now
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House Speaker Kevin McCarthy will have his first meeting with President Joe Biden as leader of Congress' lower chamber on Wednesday, where he intends to force bipartisan negotiation on government spending cuts.
The United States could be careening toward a massive financial default if Congress does not take action to raise the debt ceiling, which allows the country to pay its bills.
Such a massive blow to the U.S. economy would plunge global markets into turmoil.
Speaking with CBS News' Face The Nation on Sunday, McCarthy vowed the U.S. would not default, but made clear that he believes the stalemate isn't on him.
'The only person who is getting in the way right now, is the President and [Senate Majority Leader] Schumer. They won't even pass a budget,' the Speaker said
House Speaker Kevin McCarthy revealed on Sunday that he'll have his first meeting with President Biden since taking the gavel on February 1
'They won't even negotiate. We have now till June. I want to make sure we have something responsible, something that we can move forward on and something that we can balance our debt with.'
Treasury Secretary Janet Yellen told Congress earlier this month that the U.S had run up against its debt limit - the total amount of monetary debt the federal government is
