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Biden, McCarthy to discuss debt limit in talks on Wednesday

Joe Biden, Kevin McCarthy, Chuck Schumer, Nancy Pelosi, Kamala Harris, Mitch McConnell
Posted at 8:33 PM, Jan 29, 2023
and last updated 2023-01-29 20:33:21-05

WASHINGTON (AP) — House Speaker Kevin McCarthy says he's looking forward to discussing with President Joe Biden a “reasonable and responsible way that we can lift the debt ceiling” when the two meet Wednesday at the White House.

It'll be their first sit-down since McCarthy became speaker. McCarthy tells CBS' “Face the Nation” that he wants to address spending cuts along with raising the debt limit.

But the White House has ruled out pairing those two together as the government tries to avoid a potentially devastating financial default.

The speaker is pledging that cuts to Social Security and Medicare will be off the table.