McCarthy to Biden on debt limit: ‘You are on the clock’

Speaker Kevin McCarthy on Tuesday wrote to President Joe Biden asking him to set a date for their next negotiating meeting on the debt limit by the end of the week.

The California Republican reiterated that his conference is set on pairing any debt limit increase with policies that would cut spending, save taxpayers money and spur economic growth, while offering four examples of the types of proposals he and Biden could discuss.

McCarthy’s examples, which he stressed were not exhaustive, included cutting nondefense discretionary spending to “pre-inflationary” levels and limiting out-year growth; rescinding unspent pandemic aid; strengthening certain benefit programs’ work requirements for able-bodied adults without dependents; and other legislation, such as an energy policy overhaul to spur more domestic production and border security measures that would stop the flow of fentanyl.