Biden Discusses Debt Limit with House Speaker McCarthy

US President Joe Biden met with House Speaker McCarthy at the White House to discuss the "debt limit" issue, but no results came out of the meeting regarding increasing the debt limit. McCarthy spoke at a press conference at the White House following his first meeting with Biden as House Speaker. McCarthy stated that his meetings with Biden went well and said that they promised to continue discussing the debt limit. McCarthy stated that no decision was reached and no promises were made regarding the debt limit during the meeting and emphasized that they would continue negotiations to make America stronger, more secure and balanced. McCarthy, who defended the view that the biggest threat to the US is "debt", noted that the country's debt is 120 percent more than its gross domestic product. McCarthy pointed out that there was a problem with "spending" and emphasized that as House Speaker, he was aware of his responsibility to act "logically and responsibly" regarding increasing the debt limit, but that an increase in unnecessary spending should also be avoided. House Speaker McCarthy answered “No” to the question of whether “classified documents” came up during the meeting. Call from the White House to members of Congress In a statement on the subject, the White House reported that Biden and McCarthy had a “candid and open” meeting. The statement noted that Biden conveyed that it was their shared duty not to allow “an unprecedented and economically catastrophic default” with Congress. The statement, which stated that this was also the expectation of the American people, emphasized that increasing the debt limit was not open to discussion and should not be tied to any conditions. The statement also stated that Biden would welcome a separate meeting with Congressional leaders on how to reduce the budget deficit and control the national debt, and noted that the President and the Speaker of the House agreed to continue discussions on this issue. Debt limit crisis The federal government in the USA has reached a debt limit of $ 31.4 trillion that could lead to a default. The debt limit, or debt ceiling, means "an upper limit on the amount of money the U.S. government can borrow to service its debts." Republicans, who recently won the majority in the House of Representatives, are in favor of significant spending cuts in debt limit negotiations. Democrats, on the other hand, insist on increasing the debt limit, while rejecting Republicans' proposals to cut certain spending. There is concern that the debt limit issue, which has become a stalemate between Democrats and Republicans, will shake markets in the next few months. As recession expectations in the U.S. grow stronger, the showdown between the two parties over the debt limit carries more risk than ever.