House Speaker Kevin McCarthy claims he's not considering budget cuts to Social Security or Medicare as Congress negotiates fiscal pathways to raising the debt ceiling.
so that the government can continue to pay its bills and endangering the already fragile U.S. economy.
Speaker of the House Kevin McCarthy, R-Calif., said speculation around budget cuts to Social Security and Medicare are not true on"Kudlow" Tuesday, January 24, 2023., which is currently around $31.4 trillion, is the legal limit on the total amount of debt that the federal government can borrow on behalf of the public, including Social Security and Medicare benefits, military salaries and tax refunds.
Biden’s White House has urged lawmakers to raise the debt ceiling "without condition," though Speaker McCarthy wants to sit down with the president himself to discuss possible spending cuts in relation to the debt limit. "It's just irresponsible of the president not to sit down to negotiate. We're at [a] $31 trillion debt," McCarthy said. "If your child had a credit card and kept hitting its limit, you wouldn't just keep increasing it. You would first find out, what are you spending on? Look, I'm very reasonable. I'm very sensible. All I'm asking for is a responsible debt limit increase.
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