McCarthy Says Biden Wants a Default Instead of a Deal

( – House Speaker and California Republican Kevin McCarthy said on Monday the weekend’s debt ceiling negotiations with US President Joe Biden resulted in insignificant progress that won’t be enough to strike a deal. He also accused the White House and the Democratic Party of wanting “a default” instead of a strong deal for the country.

When walking into his office, McCarthy told CNN and NBC he believes that both parts of this negotiation are still “far apart.” He also said that the weekend’s negotiations gave him the impression that President Biden and his administration don’t want a deal. The House Speaker added that it looks like they want to show the United States they are “in a meeting” but they don’t take this problem seriously, and even accused them of wanting “a default more than a deal.”

His comments were quite surprising because it contradicts President Biden’s previous assessments on this matter where he signaled progress in the debt ceiling negotiations. In fact, Treasury Department Deputy Secretary Wally Adeyemo said during a Sunday interview at CNN’s “State of the Union” that these negotiations have been quite “constructive.”

Last week, negotiators decided to postpone a meeting between the four main congressional leaders and President Biden scheduled for Friday. However, different reports revealed that staff-level negotiations took place since the five political leaders had a meeting last Tuesday.

Earlier this month, Treasury Department Secretary Janet Yellen said that the United States will enter on default on June 1st if the House of Representatives fails to raise the limit, which could lead to unprecedented economic consequences. Experts pointed out this was good news as it gave both parts enough time to negotiate and reach a deal that could prevent this scenario from happening.

The House Speaker told CNN and NBC that negotiators need to strike a deal over the next few days to meet the deadline. He added that the deal must be made by the weekend so the country has the proper timeline to execute it.

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