Biden, McCarthy meet at White House on debt crisis worries

Published February 1, 2023 2:08 PM

By LISA MASCARO and SEUNG MIN KIM
Associated Press

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy are preparing for their first meeting since the GOP leader took power. The Wednesday afternoon sitdown comes ahead of a looming debt ceiling showdown. Biden has refused to engage in brinkmanship over lifting the nation’s debt limit, warning against throwing the economy into chaos. But McCarthy is eager to launch negotiations over slashing federal spending as part of a broader deal. The Republican leader arrives at the meeting without a formal GOP budget proposal, but laden with the promises he has made to far-right and conservative lawmakers to return federal spending back to 2022 levels — an 8% reduction.

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