White House Says Biden Won’t Negotiate in McCarthy Debt Talks
- President warns of financial ruin if US breaches debt limit
- Biden vows to address issue during State of the Union speech
Joe Biden and Kevin McCarthy
Source: BloombergThis article is for subscribers only.
President Joe Biden “looks forward” to meeting with Kevin McCarthy, the new Republican House speaker, to discuss a variety of issues, but negotiation on raising the US debt limit is off the table, the White House said Friday night.
“Like the president has said many times, raising the debt ceiling is not a negotiation; it is an obligation of this country and its leaders to avoid economic chaos,” White House Press Secretary Karine Jean-Pierre said in a statement, which did not provide a date for the meeting.