House Speaker Kevin McCarthy on Sunday accused US President Joe Biden of bowing to far-left Democratic party progressives when it comes to debt ceiling talks.
During a performance on Fox newsMcCarthy called Biden’s trip to the G-7 summit in Japan a turning point for the blame debate after the president mentioned the ongoing debate in Hiroshima.
On Sunday, Biden said he was “flawless” in the talks and accused MAGA Republicans of derailing the discussions and undermining his re-election campaign.
“Now the president, although he was abroad, thought to change places… I don’t understand. For 97 days he ignored me. We were in a good place. He’s going abroad and now he wants to change the debate,” McCarthy said.
‘That is not healthy. We have yet to introduce a bill to the House and Senate, and we only have 11 days to go,” he continued, warning of a default.
Congress must raise or suspend the debt limit before June 1 or the US may not be able to pay off current debts, Treasury Secretary Janet Yellen previously said.
House Speaker Kevin McCarthy on Sunday accused US President Joe Biden of succumbing to far-left progressive ideals by harboring the idea of raising the debt ceiling
Speaking on FOX News, McCarthy called Biden’s trip to Japan’s G-7 summit a turning point for debt talks as Congress runs out of time to pass a bill.
During his speech in Hiroshima, Biden blamed “MAGA Republicans” for unraveling the debt talks.
He said they want to undermine and derail his bid for re-election in 2024.
“Based on what I’ve offered, I’d be innocent. As far as the politics of it go, no one would be innocent. And by the way, that’s one of the, one of the things [people] are thinking. Well, I have to be careful here,” Biden said.
“I think there are some MAGA Republicans in the House who know the damage it would do to the economy and because I am president and presidents are responsible for everything, Biden would take the blame. And that’s the only way to make sure Biden doesn’t get re-elected,” the president continued.
That statement drew the strong backlash from the Republican House Speaker, who said Biden has now changed course in the discussion.
“The president really changed after the more progressive socialist wing of the party stood up and said they wanted to spend more money,” McCarthy said.
“He’s now bringing something to the table that everyone said was off the table. Seems like he wants default more than he wants a deal. That’s not where I am, and the only thing you know… about me, Maria [Bartiromo}, I will never give up.’
Mcarthy said he still believes the issue can be solved in a way that appeases everyone.
‘We can solve this problem and make our economy stronger,’ he continued.
‘Curve inflation and be less dependent on China and really focus on American problems with American solutions,’ the House Speaker continued.
President Joe Biden opened the door to using 14th amendment to solving debt crisis
That hope may be long gone, however, as some Democrats have recently urged Biden to utilize the 14th Amendment.
The 14th Amendment would allow Biden to bypass congressional negotiations so that he does not have to haggle with his Republican counterparts.
‘The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned,’ the 14th Amendment states.
The legality of this issue is still under speculation as many law experts have said they are skeptical about Biden’s ability to singlehandedly raise the debt ceiling.
Biden seemingly acknowledged that during his speech in Japan and said he would let the appeals process make the final decision.
‘We have more money coming in to the coffers than at any time in history,’ McCarthy said on Sunday morning.
‘The real challenge is our spending, Our spending, on average for the last 50 years has been about 21%. Well, in FY 22, after the Democrats have taken over, we’re roughly over 24% of GDP, so it’s a sheer spending problem,’ the Speaker continued.
How 14th Amendment Applies to US Debt
Many legal scholars suggest a clause in the 14th Amendment that says the ‘validity of the public debt, authorized by law … shall not be questioned’ could apply to the debt limit.
Legal experts argue that Section 4 of the 14th Amendment allows the Treasury Department to keep borrowing money past the debt limit and that it would be unconstitutional for the U.S. to fail to make payments.
Some Democrats are urging Biden to invoke the constitutional amendment to keep the country from defaulting.