President Joe Biden "has not come to the table yet" on addressing the debt limit but Congress needs to move forward with some agreement to "rein in wasteful spending" by Democrats and move toward a balanced budget, says Rep. Ben Cline, R-Va.
"We have to increase the debt limit, but we can't continue to spend at the levels that this administration has been spending, on what Nancy Pelosi and Chuck Schumer have been spending," Cline said during an appearance Wednesday on Newsmax TV's "Spicer & Co."
"Democrats are wrecking this economy with their radical spending. They're driving the inflation rates higher. They're making it more expensive for families at home to buy groceries, to fill up at the gas tank and the interest on the debt is crowding out critical spending."
House Speaker Kevin McCarthy earlier Wednesday following a meeting with the president said he was "optimistic" about finding "common ground" over the debt ceiling, which hit its technical limit on Jan. 19, forcing the Treasury Department to use "extraordinary measures" to continue paying the government's obligations.
Economists have warned of a global economic catastrophe if lawmakers don't raise the limit before the U.S. government loses the ability to pay all its bills at once, but Republicans have refused to budge unless Biden accepts deep cuts in federal spending. Biden has said he will not negotiate conditions for an increase.
Cline said Republicans are working to put out a balanced budget even though Biden won't release his until the spring.
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