Biden, McCarthy Meet For High Stakes Debt Showdown

  • President Biden and Speaker Kevin McCarthy (R-Calif.) will sit down Wednesday for a high-stakes meeting amid tensions over what each man characterizes as playing politics with a potential economic disaster.
  • They will have to come up with a deal to avoid the country defaulting on its debt as some Republicans threaten to not be on board without the promise of spending cuts and the White House asserting it would take no “hostages” or negotiate terms of the matter.
  • Biden and McCarthy have had few in-person interactions so far at the White House. Since McCarthy became Speaker in January — a 15-vote process Biden at one point called “embarrassing” — the White House has issued frequent statements criticizing him and GOP House members, while McCarthy’s conference has moved ahead with congressional investigations into Biden and his family.
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