On Wednesday’s broadcast of Bloomberg’s “Balance of Power,” House Speaker Rep. Kevin McCarthy (R-CA) stated that he’s “very concerned about the debt ceiling” and that investors are right to have concerns about the debt ceiling because President Joe Biden still refuses to negotiate over raising the debt limit.
Bloomberg TV Washington Correspondent Annmarie Hordern asked, “Do you have any plans to talk to Wall Street? Because there are starting to grow some concerns.”
McCarthy responded, “Yeah. They should be concerned. Because I sat down with the President on February 1 and the President never wants to meet.”
Hordern then asked, “So, all of your communications are just these letters?”
McCarthy answered, “Yeah. I’m very concerned about the debt ceiling. I want to make sure that we don’t have conflict. And you’ve watch[ed] with the Democrats spending so much that brought us inflation, and now we have the issue — now we have issues with banking…they added 5.9 trillion since they came in. Remember what Milton Friedman said…there’s only one place that can create inflation, government. They spent too much. You watch with their Inflation Reduction [Act], now, you’re finding it costs three times as much as they said.”
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