McCarthy Rules Out Short-Term Debt Limit Extension

Speaker of the House Kevin McCarthy (D-CA) awaits the start of an address by South Korea's President Yoon Suk Yeol's to a joint meeting of Congress in the House Chamber at the U.S. Capitol in Washington, U.S. April 27, 2023. REUTERS/Elizabeth Frantz
May 9, 2023
WASHINGTON (Reuters)—Republican U.S. House of Representatives Speaker Kevin McCarthy said on Tuesday he opposes the idea of extending the nation's debt-ceiling through the end of the fiscal year on Sept. 30, ahead of an afternoon meeting with Democratic President Joe Biden.

Asked by reporters whether he would support such a move to help the U.S. avoid defaulting on its $31.4 trillion in debt, McCarthy replied "no."

"Just get this done now," added McCarthy, who has said he will not pass an increase in the borrowing limit without an agreement to cut spending. Referring to Biden, he added, "he's got to stop ignoring problems. And why continue to kick the can down the road? Let's solve it now."


(Reporting by David Morgan; Editing by Scott Malone)