As the corporate media refuses to admit that Joe Biden and the Democrats have promoted reckless economic policies, Republican House Speaker Kevin McCarthy (R-CA) masterfully schooled a leftist reporter on the national debt after his first meeting with the president.
On Wednesday, McCarthy had his first meeting as speaker at the White House with Biden.
After the hour-long one-on-one meeting with Biden, McCarthy spoke with reporters outside the White House.
A corporate media reporter then fired a loaded question at the speaker that suggested Biden is fiscally responsible while Republicans are promoting reckless policies.
“Can you commit that the U.S. will not default on its obligations?” the reporter asked.
The question comes as the federal national debt ceiling approaches in the coming months.
McCarthy responded to the gotcha question masterfully by providing an analogy.
“If you have a child and you give them a credit card, and they spend that limit, you’re responsible for paying that credit card,” McCarthy told the reporter.
“But the responsible thing to is going forward, not just raise the limit, but look at how you’re spending.
“If we continue the trajectory that we’re on, in the next 10 years, we’ll spending $8 trillion just on interest,” he noted.
“The greatest threat to America is our debt. Our debt is now at 120 percent of GDP, meaning our debt is larger than our economy.
“This is higher than at any time in American history,” he said.
REPORTER: "Can you commit that the US will not default on its obligations?"
MCCARTHY: "If you have a child, & you give them a credit card, & they spend that limit, you're responsible for paying that credit card. […] Not just raise the limit, but look at how you're spending." pic.twitter.com/jH9SN4oddW
— Breaking911 (@Breaking911) February 1, 2023
McCarthy highlighted that the United States is in this predicament despite revenue hitting an all-time high in Fiscal Year 2022 of $4.9 trillion.
To give some perspective, the federal government spent $4.4 trillion in 2019.
America could have balanced the budget, or at least come close, if there had been some modicum of spending restraint under Biden and the Democrats over the past two years.
Instead, Democrats spent $6.27 trillion for a deficit of $1.38 trillion in FY 2022.
In FY 2021, Biden’s first year in office, the deficit was $2.8 trillion.
“So we’ve got a lot of revenue,” McCarthy concluded.
“We just have a spending problem.”
.@SpeakerMcCarthy on meeting with President Biden: "I've just walked out having an hour conversation with this president that I tell you in perspective was a good conversation. No agreements, no promises except we will continue this conversation." pic.twitter.com/FfIsqE5fvz
— CSPAN (@cspan) February 1, 2023
McCarthy points out that the massive spending, and thereby the printing of more dollars under Biden and the Democrats, has led to the 40-year high inflation.