The debt ceiling is expected to be at top of the agenda.
House Speaker Kevin McCarthy of California said he and President Joe Biden will meet Wednesday to discuss keeping America from defaulting on its obligations.
“I want to find a reasonable and responsible way that we can lift the debt ceiling, but take control of this runaway spending,” Speaker McCarthy said. He stated that, over the past four years, spending has increased by 30%, $400 billion. “We’re at 20% of GDP. We haven’t been in this place to debt since World War II, so we can’t continue down this path.”
The House speaker said that reductions for Medicare and Social Security will not be considered. He also indicated that he wants to make certain that defense spending is protected while taking a “look at every dollar no matter where it’s being spent.”
He reiterated, “The one thing I do know is, we cannot continue the waste that’s happening, to continue to spend more and more and leverage the debt of the future of America. We’ve got to get to a balanced budget.”
As the Lord Leads, Pray with Us…
- For Speaker McCarthy as he prepares to discuss the national debt with the president.
- For President Biden to seek the Lord’s leading as he heads into the meeting with the House speaker.
- For members of Congress as they endeavor to ensure the nation’s debts are paid as well as rein in spending.
Sources: Washington Examiner, One America News
