Biden to Press McCarthy on Debt Limit in First Meeting

President Joe Biden aims to press House Speaker Kevin McCarthy to commit to preventing the US from defaulting on its debt in a sit-down meeting Wednesday, and to challenge the Republican to release his own detailed spending plan.

Biden’s proposed budget for the 2024 fiscal year — to be released March 9 — will “show how the president plans to invest in America, continue to lower costs for families, protect and strengthen Social Security and Medicare, and reduce the deficit,” National Economic Council Director Brian Deese and Office of Management and Budget Director Shalanda Young wrote in a memo released Tuesday.