Biden says he won’t cave to GOP’s “whacko notions” on debt ceiling -
The president’s remarks before a friendly crowd of union workers in Accokeek, Maryland, just south of Washington, is the latest escalation of his rhetoric over the national debt. His speech came at virtually the same moment that House Speaker Kevin McCarthy unveiled Republicans’ 330-page plan to raise the debt limit by $1.5 trillion in exchange for a long list of spending cuts.
Mr. Biden slammed Mr. McCarthy’s negotiating tactics, saying the GOP’s plan would result in a 22% cut to entitlement programs like Social Security and Medicare, as well as raise interest rates on credit cards and car loans. Mr. Biden says the cuts would make it nearly impossible for the government to meet its obligations to citizens. He said the cuts would result in delays in Social Security payments, deny veterans necessary Medicare and increase costs.
“President Biden is skipping town to deliver a speech in Maryland rather than sitting down to address the debt ceiling. He’s giving America’s debt the southern border treatment: ignore it and hope that it goes away,” he said through a spokesman.
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