Biden to meet with McCarthy over avoiding debt ceiling ‘calamity’

“We’re going to have a little discussion on that,” Biden said.

President Joe Biden said Friday that he would speak with House Speaker Kevin McCarthy about the debt ceiling, warning that failing to raise the nation’s borrowing limit would be a catastrophic mistake.

“We’re going to have a little discussion on that,” he said at a White House event with city mayors. “If we don’t meet our national debt and renege for the first time, we have a calamity that exceeds anything that’s ever happened financially in the United States.”

The White House responded in a statement issued later on Friday, where Jean-Pierre reiterated that “raising the debt ceiling is not a negotiation; it is an obligation of this country and its leaders to avoid economic chaos.”

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