Kevin McCarthy: National Debt ‘Greatest Threat to Our Future’

House Speaker Kevin McCarthy (R-CA) said during a speech Monday that the national debt is the “greatest threat” to America’s future and called on President Joe Biden to negotiate with Republicans on the debt ceiling.

McCarthy said during the press conference, addressing the looming debt ceiling deadline:

Americans are getting hammered by higher prices. Today, nearly two-thirds of all Americans are living paycheck-to-paycheck, struggling to make ends meet.

Meanwhile, China is infiltrating our culture, our farmland, and our skies because they see us as weak.

This is not sustainable.

But of all the dangers we face, the greatest threat to our future is our national debt.

McCarthy said after a meeting with Biden that he remains optimistic that Republicans and Biden can find common ground on the debt limit and spending.

The House speaker noted that Biden, who does not want to cut spending as part of a deal to raise the debt ceiling, has backed negotiated with prior House Republican majorities:

Here’s what then-Vice President Biden said when he negotiated a debt limit increase with House Republicans in 2011… “You can’t govern” without negotiating.

Those are HIS words. That was HIS sensible standard. And House Republicans are following it now.

Mr. President, it’s time to get to work.

Mccarthy added, “As a senator, you voted against raising the debt ceiling, Mr. President. To quote YOUR words, your vote in 2004 was ‘a protest of the policies that have brought us to this point and a demand that we change course.'”

Indeed, Biden, on multiple occasions, has voted against raising the debt ceiling, lamenting the rapid increase in the deficit.

In 2006, Biden voted against a Republican debt ceiling increase, which would have raised the debt ceiling from $8.184 trillion to $8.965 trillion.

McCarthy said during his speech that Biden and Republicans can and must find common ground on a responsible debt limit increase:

First, we will continue to sit down and negotiate – just as President Biden did in the past.

Second, we must commit to finding common ground on a responsible debt limit increase. Finding compromise is exactly how governing in America is supposed to work – and exactly what the American people voted for just three months ago.

Third, we must move towards a balanced budget and insist on genuine accountability for every dollar we spend. Future generations deserve nothing less.

A responsible debt limit increase that begins to eliminate wasteful Washington spending and puts us on a path towards a balanced budget is not only the right place to start… It’s the only place to start.

McCarthy concluded in his speech, “Mr. President, Congressional Republicans are ready to act – to save our country and to make America stronger. I hope you will join us.”