President Joe Biden hinted at progress in talks with House Speaker Kevin McCarthy (R-Calif.) on raising the nation’s debt limit.
“Let’s just sort of, kind of, join hands again a little bit. Let’s start treating each other with respect,” Biden said at the National Prayer Breakfast in Washington on Feb. 2.
“That’s what Kevin and I are going to do. Not a joke, we had a good meeting yesterday. I think we’ve got to do it across the board. It doesn’t mean we’re going to agree and [not] fight like hell. But let’s treat each other with respect.”
The two had met on Feb. 1 for an initial meeting concerning the debt ceiling.
McCarthy struck a similar tone of energetic but respectful debate after that one-hour conversation.
“We have different perspectives. But we both laid out some of our vision of where we want to go, and I believe after a while, we can find common ground,” McCarthy told reporters at the White House.
Prior to their Feb. 1 meeting, Biden and McCarthy articulated conflicting visions for the outcome of negotiations.
Biden has repeatedly insisted that he will not bargain over raising the debt ceiling because failing to do so would cause panic in financial markets and endanger the economic stability of the country.
McCarthy has stated his determination to gain spending cuts in order to reduce the nation’s $31.4 trillion national debt, which he reiterated on Feb. 2.
“We will not pass a clean debt ceiling without some form of spending reform.”
The United States approached its debt ceiling this month. To forestall a financial crisis, U.S. Treasury Secretary Janet Yellen took “extraordinary measures” to keep the nation below that limit until sometime in June.
Now both leaders have said they hope to carry out the nation’s business in a respectful way but make allowances for strong disagreements on matters of policy.
“While we have had profound differences the last two years, we have proven we can come together and do big things for the country,” Biden said. “We can join hands and get things done, we can redeem the soul of America.”
McCarthy said he is hopeful he and the president can come to an agreement sooner than June.
“I think this is exactly how the government in America is designed because you have to find a compromise,” McCarthy had stated on Feb. 1. “We all have to work together.”
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