Biden, McCarthy to discuss debt limit on Wednesday

House Speaker Kevin McCarthy will meet with President Biden at the White House this week. Wednesday’s meeting will be their first sit-down since McCarthy became speaker. Topping the agenda is lifting the debt ceiling so the government can pay bills it already incurred. The two leaders have different approaches. The president wants to increase the debt limit without any conditions, while the speaker wants to include spending cuts in any agreement. However, McCarthy is pledging that cuts to Social Security and Medicare will be off the table.