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McCarthy: 'No agreement' on debt limit with Biden, 'We'll be talking again'

Following White House meeting on raising the debt limit, McCarthy says "we want to make sure we do this in a responsible, reasonable way"

February 1, 2023 5:05pm

Updated: February 2, 2023 10:57am

House Speaker Kevin McCarthy on Wednesday sounded optimistic on the potential for a deal to raise the debt limit after meeting with President Joe Biden.

"I think our first meeting was a good meeting," he told reporters at the White House after the meeting. "We promised we would continue the conversation... I think at the end of the day we can find common ground."

"We want to make sure we do this in a responsible, reasonable way," he continued, acknowledging that both he and Biden had different perspectives on the issue. "We'll be talking again."

McCarthy declined to elaborate on his terms for an agreement with the reporters who asked for him to identify areas where he wants to see cuts to federal spending.

"I'm not gonna negotiate this in the press," he said. 

The nation reached its $31.38 trillion debt limit earlier this month, prompting Treasury Secretary Janet Yellen to announce "extraordinary measures" to keep the government running.

Just the News spotted Yellen driving into the White House complex ahead of the debt limit meeting. The White House has not formally confirmed her presence in the meeting with McCarthy and Biden.

Democrats have advocated for a clean increase to the debt limit without any strings attached. Conservative Republicans are seeking to address the nation's mounting debt and continued deficit spending as part of an agreement to raise the debt limit. Yellen has said her department is taking "extraordinary measures" after the debt limit was reached.

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