Just EIGHT days to default: Kevin McCarthy says ‘it’s not my fault’ the Democrats are so ‘EXTREME’

Speaker Kevin McCarthy insists it’s not his fault if the US fails to pay its debts within eight days, while the Treasury says the government has run out of money to pay its bills.

Every Democrat voted against raising the debt ceiling. Nothing happened in the Senate. I’m not a senator. I have no control over the Senate,” the speaker told reporters as negotiations dragged on for another day with no clear sign of progress.

“The president — he hasn’t spoken to us for 97 days. So excuse me for reaching out to the Democrats, for begging the president to meet me.”

The Treasury Department has insisted that June 1 is the date by which a deal must be reached to prevent the economy from sliding into a global recession.

McCarthy claimed that Republicans have made “a lot of concessions,” claiming that limiting spending increases to one percent and strengthening job requirements for welfare programs like SNAP, TANF, and Medicare were “democratic ideas.”

“That’s something Senator Biden voted for, that President Clinton signed into law. That was also an idea supported by the Democrats. So it’s not my fault that the Democrats have gone so extreme today, far into the socialist wing, that they are now against job demands. that they are now opposed to saving $1 less than we spent a year earlier.”

McCarthy also taunted the Democrats for not lifting the debt ceiling when they controlled the White House, House and Senate.

Democrats, they could have raised the debt ceiling before I became speaker. They already knew the result of the election. They knew we were taking power,” he said.

“They passed an omnibus law, but they decided not to raise the debt ceiling, even though they thought people should raise it nicely.”

White House and House GOP negotiators are hanging on to a number on the top line – with the Biden team offering to limit 2024 spending to 2023 levels – which they say amounts to a cut as they focus would not adjust for inflation.

Republicans want spending capped at 2022 levels, a difference of $130 billion, but have said spending in 2024 should at least be less than this year.

There is also debate over how long the one percent cap on spending increases should last — Biden has offered to keep it for 2025, while Republicans want it to last 10 years. They reportedly narrowed that offering down to six.

Every Democrat voted against raising the debt ceiling. Nothing happened in the Senate. I’m not a senator. I have no control over the Senate,” the speaker told reporters as negotiations dragged on for another day with no clear message on progress

This is not the first time that debt ceiling negotiations have failed.

In 2011, Republicans used the impending default of the debt limit to also negotiate spending cuts. It was a parallel scenario where Democrats controlled the White House under President Obama and the Senate, while Republicans held power in the House.

With only 72 hours left, the Democrats and Republicans reached an agreement that raised the debt ceiling by $900 billion and cut spending by a similar amount.

Talks will continue Wednesday at the White House, where McCarthy’s negotiators – Representatives Garret Graves, La., and Patrick McHenry, N.C. – will sit down with White House negotiators, Office of Management and Budget Director Shalanda Young and Steve Richard advise.

McCarthy told reporters, “I don’t think there will be a standard,” as he said he believed they could “make progress” today.

When asked if progress has been made overnight, he said: “There are differences. We know where it is.’

The speaker keeps the substantive details of what is offered close to his chest.

When asked what concessions he was willing to make to “save the economy,” McCarthy replied, “I’m willing to make America stronger.”