Kevin McCarthy and Joe Biden clash over looming debt ceiling TBEN

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House Speaker Kevin McCarthy (R-CA) on Tuesday urged Democrats to negotiate a deal that would scrap the debt ceiling and lower spending.

“I would like to sit down with all leaders, especially the president, and start discussions,” McCarthy said.

Treasury Secretary Janet Yellen said the debt ceiling would move toward the debt ceiling on Thursday; However, Yellen said she would take “extraordinary measures” to extend the TBEN to June.

McCarthy called for negotiations to begin before the federal government gets too close to the June TBEN.

The House leader said, “Who wants to give the nation some sort of last-minute threat with the debt ceiling? Nobody wants to do that.”

President Joe Biden called Republicans “fiscal dement” and the White House has said they have no plans to negotiate the debt ceiling, urging Congress to raise the debt ceiling without spending cuts.

“As President Biden has made clear, Congress must pass the debt limit and it must be done without preconditions,” White House press secretary Karine Jean-Pierre said at a news conference Tuesday.

She added: “But congressional Republicans threaten to take the entire faith and honor of the nation, a mandate of the Constitution, hostage with their demands to cut Social Security, scrap Medicare and Medicaid — blunders that threaten the global economy.”

McCarthy called for change to “establish a budget, chart a path to get to a balanced budget and let’s start paying off this debt.”

Speaker McCarthy said a possible deal on the debt ceiling could reshape entitlement programs such as Social Security and Medicare and discretionary spending.

“Let’s sit down and find a place where we can protect Medicare and Social Security for the future generations, let’s put our house in order in how we’re going to spend,” McCarthy explained.

Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.