McCarthy calls for immediate talks on budget increase
2023.01.17 14:55
McCarthy calls for immediate talks on budget increase
By Kristina Sobol
Budrigannews.com – According to House Speaker Kevin McCarthy, Senate Democrats and President Joe Biden must meet with Republicans as soon as possible to begin discussing spending controls and raising the nation’s debt limit.
McCarthy stated Tuesday at the Capitol, “We are approximately six months away, and what I would like to do, is I would like to sit down with all the leaders, especially the president, and start having discussions.”
In exchange for an increase in the statutory ceiling on federal debt, Republicans, who currently hold control of the House, have been calling for significant spending reductions. However, in an effort to avoid disrupting financial markets and posing a threat to the economy, Biden and Democrats in Congress have called for the limit to be raised without conditions.
The Democrats’ strategy was rejected by McCarthy, who stated, “I don’t see why you would continue the past behavior.” Additionally, he stated, “Who wants to put the nation in danger at the last minute with the debt ceiling?” That is unpopular.
He suggested that Democrats engage in negotiations to “set a budget, set a path to get us to a balanced budget, and let’s start paying off this debt.”
The speaker stated that he is seeking modifications to major entitlement programs and annual discretionary spending that funds federal agency operating budgets.
McCarthy stated, “Let’s sit down and find a place where we can protect Medicare and Social Security for the future generations,” “Let’s put our house in order in how we are going to spend — and let’s make the investments we need to make America stronger.” McCarthy was referring to the Medicare and Social Security programs.
On Friday, Treasury Secretary Janet Yellen informed leaders in Congress that the government will begin using extraordinary accounting measures on January 19 to prevent cash shortages. She stated that although it is currently impossible to specify when those measures will expire, it is unlikely to be before the beginning of June.
McCarthy claimed that he did not receive an invitation for a follow-up meeting on the debt ceiling after his initial conversation with Biden following his appointment as speaker.
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