Investors Should Be Worried About Debt Ceiling Deadlock: House Speaker
House Speaker Rep. Kevin McCarthy (R-Calif.) said Wednesday that investors should be worried about the deadlock in Washington over raising the debt ceiling as the United States inches closer to a possible debt default, which both Democrats and Republicans have warned would be terrible for the economy.
McCarthy told Bloomberg TV in an interview Wednesday that he’s “very concerned” about President Joe Biden’s refusal to negotiate with Republicans about cutting government spending in exchange for GOP support to raise the debt ceiling.
“Unfortunately, I tried to sit down with the president and the president doesn’t want to communicate,” McCarthy said, adding that since a meeting with Biden on Feb. 1, the only communication between the two on the debt ceiling has been via letter….