Kevin McCarthy, Joe Biden, and the Deeply Unserious Debate Over the Debt Ceiling

As the clock ticks toward a possible default on the national debt, Speaker of the House Kevin McCarthy (R–Calif.) and top Democrats in Washington—as well as media allies on both sides—are locked in a staring contest over who can take the matter less seriously.

The latest development in this slow-motion train wreck was a speech McCarthy delivered Monday from the New York Stock Exchange. "Debt limit negotiations are an opportunity to examine our nation's finances," he said, stressing that a bill to raise the nation's debt limit would only get through the House if it was pared with spending cuts. The House will vote on such a bill within "the coming weeks," McCarthy promised.