House Speaker Kevin McCarthy said that Social Security and Medicare are off the budget cut table on Kudlow Tuesday afternoon.
The administration said they won't negotiate, and then they want to play politics, the Republican House leader said. Why are so many people afraid to get rid of waste? The speaker maintained that none of that is true, despite little White House weenies accusing McCarthy of considering spending cuts to Social Security and Medicare entitlements. McCarthy was elected House Speaker of the 118th Congress by a narrow margin in the 15th vote earlier this month, after a group of Republican holdouts that made changes to the way legislation is handled, the way the House is procedurally run, safeguards on excessive spending, and other changes.
The Treasury Department is deploying a series of emergency moves to make sure that the government can continue to pay bills and endangering the already fragile U.S. economy, as both parties are engaging in talks to raise the U.S. debt ceiling after it hit its limit last week.
The federal government has the right to borrow money on behalf of the public such as Social Security and Medicare benefits, military salaries and tax refunds, and is currently around $31.4 trillion, which is currently around $31.4 trillion.
Speaker McCarthy wants to talk about possible spending cuts in relation to the debt limit, despite Biden s White House urging lawmakers to raise the debt ceiling without condition.
It is irresponsible for the president not to sit down to negotiate. McCarthy said we have $31 trillion debt. If your child had a credit card and kept hitting its limit, you wouldn't just keep increasing it. I'm very reasonable. I want to see a responsible debt limit increase. The speaker stated the importance of deciding where the U.S. is wasting money, and arguing that it puts America on a path to a more balanced budget while securing the country's economic future.
McCarthy said that he wouldn't negotiate and he is playing with the financial markets of America. We have until June or July to get to the limit, so we've hit the limit. Let's start communicating now, find the common places we can get together, and have a responsible debt ceiling that's lifted, but puts us on a path to make us financially stronger. We have never been in that position before except for World War II, and we were funding not only saving America, but saving the world, the speaker continued. We need to save America and stop spending. McCarthy said that Congress should do the same, as cities, counties and states must approve and vote on a budget every year.
Why do we not say before we raise the debt limit, you actually pass a budget and tell us where you want money? I don't know anyone who agrees with the president that we should just raise the debt limit and have no negotiations, because they believe there's no area in government that we can eliminate waste.