Biden, McCarthy to discuss debt limit in talks on Wednesday

House Speaker Kevin McCarthy says he's looking forward to discussing with President Joe Biden a “reasonable and responsible way that we can lift the debt ceiling” when the two meet Wednesday at the White House

House Speaker Kevin McCarthy said Sunday he is looking forward to discussing with President Joe Biden a “reasonable and responsible way that we can lift the debt ceiling ” when the two meet Wednesday for their first sit-down at the White House since McCarthy was elected to the post.

McCarthy, R-Calif., said he wants to address spending cuts along with raising the debt limit, even though the White House has ruled out linking those two issues together as the government tries to avoid a potentially devastating financial default.

The speaker pledged that cuts to Social Security and Medicare would be off the table.

“I know the president said he didn’t want to have any discussion (on cuts), but I think it’s very important that our whole government is designed to find compromise,” McCarthy told CBS' “Face the Nation.” “I want to sit down together, work out an agreement that we can move forward to put us on a path to balance and at the same time not put any of our debt in jeopardy at the same time.”

After McCarthy disclosed the upcoming meeting during the television interview, the White House provided confirmation.

McCarthy was elected speaker on a historic post-midnight 15th ballot early on Jan. 7, overcoming holdouts from his own ranks and tensions that have tested the new GOP majority ability to govern.