McCarthy Responds to Biden’s Debt Ceiling Jab Ahead of Meeting

House Speaker Kevin McCarthy, R-Calif., responded to the president’s jab on Monday that he’ll show his budget if McCarthy shows his.

“For the president to say he doesn’t want to negotiate something this large… When you think back to 2011, when he was vice president, they even called the negotiations over the debt ceiling, the Biden negotiations,” McCarthy stated that McCarthy was “amazed” by the idea of “The Bottom Line” Monday evening.

“I mean, to think that the president believes there’s no place in government you can’t cut and have a savings for the hardworking taxpayers?” The speaker continued. “There’s so much waste out there, and we’ve got to put ourselves back on a trajectory that balances.”

The U.S. pushed back against the debt ceiling earlier this month. It currently stands at $31.4 trillion. This forced the U.S. to Treasury Department to deploy “extraordinary measures” To ensure that the government continues to pay its bills.

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As reporters approached him ahead of the bipartisan meeting on Wednesday afternoon, President Biden sent a message directly to the House speaker. “Show me your budget, and I’ll show you mine.”

Kevin McCarthy, House Speaker calls for more government spending “back on a trajectory that balances” On “The Bottom Line” Monday, Jan. 30, 2023. (Getty Images)

Reacting to Biden’s remarks, McCarthy expressed his plans to discuss a balanced budget in-person with the president, arguing “every family does it, every business, every state, every county.”

“We need to sit down together, find common ground, find where we can eliminate the waste, and let’s put our country back on a path where we can balance and get our future brighter than before,” McCarthy stated. “We’re going to work very closely together, and I think you’re going to find us more united than ever before.”

The Biden administration Andrew Bates, White House spokesperson accused Republicans of trying cut Social Security and Medicare. “vital lifelines for the middle class that Americans pay into throughout their lives.”

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“For years, congressional Republicans have advocated for slashing earned benefits using Washington code words like ‘strengthen,’ when their policies would privatize Medicare and Social Security, raise the retirement age, or cut benefits,” Bates made the statement in a statement. 

The debt ceiling was last raised by Congress in December 2021. Janet Yellen, Treasury Secretary Projections show that the government can cover its bills until June.

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FOX Business’ Paul Best contributed to this report.