McCarthy tells Biden have to make a name on debt negotiations: 'Timeline may be very brief'

House Speaker Kevin McCarthy (R-CA) says that President Joe Biden must make a name on debt ceiling negotiations because the deadline to stop america from defaulting on its debt quickly approaches.

McCarthy stated Biden must have somebody from the administration negotiate immediately with him whereas on CNBC's Squawk Field on Wednesday.

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"The President ought to appoint both himself or folks from his administration to barter immediately with myself," McCarthy stated. "The problem right here is the president waited 104 days till he got here to this conclusion."

The Home speaker acknowledged that the White Home has agreed to barter however harassed that there's not an abundance of time earlier than the U.S. is about to default if the debt ceiling is just not raised.

"The issue is the timeline may be very brief, however Republicans are the one ones who've handed a invoice, the Restrict, Save, and Develop Act to boost the debt ceiling and really make the economic system stronger," McCarthy stated.

McCarthy, Biden, and different congressional leaders met on the White Home on Tuesday as negotiations proceed on the debt ceiling, at the same time as Biden travels to Japan on Wednesday to a gathering of the G-7.

Treasury Secretary Janet Yellen stated the U.S. will possible default on its money owed by June 1 if the debt ceiling is just not raised, making for a fast deadline for Congress and the White Home.