President Joe Biden has expressed his belief that Speaker Kevin McCarthy (R-Calif.) is an "honest man" ahead of a high-stakes meeting next week on the debt ceiling. Instead of taking personal jabs at the House Speaker, Biden criticized the deal McCarthy cut with his fellow House Republicans to get a debt ceiling hike through their chamber.
During negotiations, which have only occurred formally once so far, McCarthy has been pushing for a follow-up discussion. The two leaders are expected to meet again as talks continue regarding raising the nation's borrowing limit.
Biden acknowledged that McCarthy is in some ways hostage to the right wing of the GOP and noted it took him 15 votes to become Speaker. The White House has maintained that Congress has an obligation to raise the ceiling without conditions, pointing to decades of precedent and noting that the debt has accrued over hundreds of years and reflects spending already approved by previous governments.
Republicans are using the debt ceiling as leverage as they seek significant cuts to government spending programs. However, President Biden warned he would veto such a bill if it reaches his desk.
In addition to discussing politics around budgetary issues, journalists pressed President Biden about potentially running for re-election when he would be nearly 82 years old. Although not directly answering questions regarding his future plans, he focused on addressing current legislative challenges before looking forward into another term.
The upcoming meetings between President Biden and Speaker McCarthy will be crucial in determining whether both parties can reach an agreement on lifting America's borrowing limit while avoiding severe economic consequences stemming from failure in doing so.