Speaker Kevin McCarthy began laying out House Republicans’ plan to lift the debt limit and curb spending in a speech at the New York Stock Exchange on Monday in which he tried to amp up the pressure on Democrats to negotiate.
The California Republican spent much of his half-hour speech, delivered on the 100th day of the new House GOP majority, disparaging President Joe Biden for not negotiating. He sought to place the blame at Biden’s feet should the debt limit standoff result in the United States not being able to pay its obligations on time.
“Make no mistake: The longer President Biden waits to be sensible, to find an agreement, the more likely it becomes that this administration will bumble into the first default in our nation’s history,” McCarthy said.
