U.S. House Speaker McCarthy Says He Thinks U.S. Will Not Default

Reuters2023-05-17

WASHINGTON, May 17 (Reuters) - House Speaker Kevin McCarthy on Wednesday said he believed the United States will not default on its debt now that congressional leaders and President Joe Biden's administration are sitting down and negotiating.

"I think at the end of the day, we do not have a debt default," McCarthy said in an interview with CNBC.

"The thing I'm confident about is now we have a structure to find a way to come to a conclusion. The timeline is very tight. But we're going to make sure we're in the room and get this done."

McCarthy defended Republican proposals to impose spending caps and work requirements for Americans who receive some federal benefits, saying both would help the U.S. economy.

McCarthy also said there would not be a discussion on taxes in the current negotiations with the White House on raising the U.S. debt ceiling.

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