McCarthy: Biden ‘playing’ with markets by refusing to negotiate debt limit, we won’t cut Social Security, Medicare

On Fox Business Network’s “Kudlow” on Tuesday, Speaker of the House Kevin McCarthy (R-CA) said President Joe Biden was “playing America’s financial markets” by refusing to say he would negotiate a debt hike. limit and said that if Senate Democrats want to raise the limit, they should pass the budget so we know what the money is for. McCarthy also said Republicans’ claims of intent to cut Social Security and Medicare and default on bond payments are untrue.

McCarthy said: “We have to negotiate the debt. Our entire government is built for compromise. Republicans control the House of Representatives. Democrats have a slim majority in the Senate. And he’s the president. He plays with America’s financial markets by saying he won’t negotiate. … Doesn’t he believe that there isn’t a single dollar that can be found to eliminate wastefulness in government? They just passed a $1.7 trillion bill written by two senators who are no longer alive at the end of the year. The Democrats never passed the budget.”

Then host Larry Kudlow said, “And, Mr. Speaker, one more thing, these little white house wimps, they say you’re going to cut Social Security, you’re going to cut Medicare, and you’re going to default. on the payment of interest on bonds.