On Wednesday afternoon President Joe Biden met with House Speaker Kevin McCarthy to discuss their plans to deal with the debt ceiling.
They came to no conclusions.
“No agreements, no promises, except we will continue the conversation,” McCarthy said. “I want to continue it on behalf of the American people, on behalf of the parents, on behalf of every taxpayer here, that we put ourselves on a trajectory that makes America stronger, secure and balanced.”
While Biden wants to protect Social Security, Medicare and social programs, Republicans want to cut that spending. Biden and Democratic Sen. Chuck Schumer have also questioned how Republicans plan to make those cuts.
“[Republicans] have to show us their proposal,” Schumer said. “They have to show us their plan. Plain and simple. Democrats are united: Show us the plan. That’s the first step.”
The debt limit, which is the total amount of money that the federal government can borrow through the U.S. Treasury, was reached in January. If nothing is done, the government could lose its ability to pay its bills by June.
“Let’s start treating each other with respect. That’s what Kevin and I are gonna do,” Biden said at the National Prayer Breakfast on Thursday. “We had a good meeting yesterday. I think we got to do it across the board, doesn’t mean we’re gonna agree and fight like hell, but let’s treat each other with respect.”
Biden looks forward to meeting with congressional leaders to establish a plan and control the national debt.