Readout of President Biden's Meeting with Speaker McCarthy

As part of a series of meetings with congressional leaders, President Biden hosted Speaker McCarthy in the Oval Office this afternoon, where they had a frank and straightforward dialogue.

They covered a range of issues and President Biden underscored that he is eager to continue working across the aisle in good faith, after passing historic bipartisan laws during his first two years in office.

President Biden made clear that, as every other leader in both parties in Congress has affirmed, it is their shared duty not to allow an unprecedented and economically catastrophic default. The United States Constitution is explicit about this obligation, and the American people expect Congress to meet it in the same way all of his predecessors have. It is not negotiable or conditional.

The President welcomes a separate discussion with congressional leaders about how to reduce the deficit and control the national debt while continuing to grow the economy. This conversation should build on the President's leadership in delivering a record $1.7 trillion in deficit reduction in his first two years in office.

The President and the Speaker agreed to continue the conversation.