McCarthy remains in DC to negotiate a debt ceiling agreement that satisfies the American people, while Biden departs.

House Speaker Kevin McCarthy Vows to Stay in D.C. Until Debt Ceiling Agreement is Reached

House Speaker Kevin McCarthy (R-Calif.) is not backing down in his fight for a debt ceiling agreement that’s “worthy of the American people.” Amid ongoing negotiations with President Joe Biden, McCarthy took to Twitter to declare, “I’m staying in DC to fight for an agreement that’s worthy of the American people—for as long as it takes.”

McCarthy’s determination to curb inflation, stop reckless spending, and make the economy stronger is unwavering. He’s not giving up on the American public, despite the looming June deadline.

The Debt Ceiling Negotiations

The negotiations between Democrats and Republicans over the nation’s debt ceiling, now at $31 trillion, are already in their third week. The administration has refused to make spending cuts until the debt limit is raised. Biden has put forward a proposal that he says will cut spending by more than $1 trillion and freeze spending for the next two years. Republicans say that’s not enough.

McCarthy’s comments come as Treasury Secretary Janet Yellen has warned that the government could run out of cash to pay its bills by next week. As negotiations continue, the stock market is already reacting negatively.

McCarthy’s Pledge

Despite the challenges, McCarthy is confident that a solution will be reached. “We’re not going to default, we’re going to solve this problem, I will stay with it until we can get it done,” McCarthy said. “But let’s be honest about this, we have to spend less than we did last year. It is not my fault that the Democrats cannot give up on their spending.”

McCarthy’s pledge to the American people is clear: he will stay in D.C. for as long as it takes to come to an agreement that’s worthy of them.

The Stakes

The stakes are high, as Fitch Ratings agency has placed the United States’ AAA credit on “ratings watch negative,” citing concerns over a possible downgrade because of the ongoing deadlock in negotiations. The agency still expects a resolution to the U.S. Treasury’s debt limit before the deadline, but the rating watch negative reflects “increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit despite the.”

It’s clear that McCarthy’s fight for a debt ceiling agreement is not just about politics—it’s about the American people and the future of the country’s economy.

What’s Next?

As negotiations continue, the American people are watching and waiting for a resolution. Will McCarthy’s determination pay off? Only time will tell.

• Will the debt ceiling be raised?
• Will spending cuts be made?
• What will be the economic impact?

One thing is for sure: McCarthy is not giving up.