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Remarks: Joe Biden Meets With Kevin McCarthy About the Debt Ceiling - May 22, 2023
StressLens
10 Topics
Entities
Moderation
3 Speakers
Joe Biden Full Transcript
Joe Biden
00:00:38-00:00:55 (17 sec)No StressLens
And -- but we all -- we both talked about the need for a bipartisan agreement. We have to be in a position where we can sell it to our constituencies. We're pretty well divided in the House, almost down the middle, and it's not any different in the Senate. So we got to get something we can sell to both sides.
Joe Biden
00:00:55-00:01:12 (17 sec)No Signal (0.458)
And we need to cut spending, but we -- here's the disagreement: We have to -- I think we should be looking at tax loopholes and making sure the wealthy pay their fair share. I think revenue matters as well as -- as long as you're not taxing anybody under 400,000 bucks.
Kevin McCarthy
00:01:33-00:02:01 (28 sec)No StressLens
We do have disagreements. I think we -- of a 50-year average, we're having more revenue than any time coming in. But I think we both agree that we need to change trajectory, that our debt is too large. And I think, at the end of the day, we can find common ground, make our economy stronger, take care of this debt, but, more importantly, get this government moving again to curb inflation, make us less dependent upon China, and make our appropriations system work when we get done, right?