Debt Ceiling Crisis: McCarthy Says Biden Putting American Economy In Jeopardy 'By Not Doing Anything'

House Speaker Kevin McCarthy on Thursday reportedly escalated demands that President Joe Biden and Democrats resolve the debt-ceiling crisis by accepting the plan passed by House Republicans.

"The President has ignored this problem. He's actually putting the economy of America in jeopardy by not doing anything," he told Bloomberg TV.

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The House of Representatives on Wednesday narrowly passed a bill to raise the debt ceiling that includes significant spending cuts over the next decade. The bill, however, isn’t expected to pass the Senate and President Joe Biden would veto it if it did, a Reuters report had said.

"The only way that you can come to an agreement is if the other side has any ideas. I produced our plan. We proved we can pass it. Show me what yours is! The Senate has done nothing. The President has done nothing. So tell me, where is their compromise? We are the only people that have passed a bill that will raise the debt limit…," he said.

White House Comments: White House Press Secretary Karine Jean-Pierre said in a briefing on Thursday that House Republicans are holding the economy hostage and threatening default, crashing the economy, jeopardizing hard-working Americans' retirement, and causing millions of Americans to lose their jobs.

"As the President said yesterday, he's happy to meet with Speaker McCarthy but not on whether or not the debt limit gets extended. That is not negotiable, and we have been very clear about this for the past several months. We have not minced words here," she told reporters.

"And what this bill will do — it'll kill jobs, and it's all to pay for tax cuts for the super-rich and profitable companies," she added.

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