House of Representatives Speaker Kevin McCarthy on Sunday said he will meet with President Joe Biden on Wednesday to discuss raising the federal debt ceiling while controlling government spending, adding that Republicans will not allow a U.S. default.
McCarthy told CBS’ “Face the Nation” program that cuts to Social Security and Medicare would be “off the table” in any debt ceiling negotiations.
But he added that Republicans want to “strengthen” the costly retirement and health benefit programs for seniors — a statement that the White House called a euphemism for cuts.
“I know the president said he didn’t want to have any discussions” on cuts, McCarthy said. “I want to find a reasonable and a responsible way that we can lift the debt ceiling (and) take control of this runaway spending.”