House Speaker Kevin McCarthy on Wednesday laid out the various problems facing the Biden administration how there is no plan in place to meet and discuss increasing the debt ceiling on "The Bottom Line."
He [President Biden] refuses to step forward because it only makes the problem even greater if he ignores it. And think about it. You named a lot of different problems.
The reason we have a bank problem because the Democrats spent $5.9 trillion-- brought us inflation. With inflation, interest rates go up, banks coming problems. What else has he done?
TOPSHOT - US President Joe Biden (R) and China's President Xi Jinping (L) meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty I (SAUL LOEB/AFP via Getty Image / Getty Images)
We're paying more for gasoline because of his energy policy. We've got more Americans dying because of fentanyl, because of his open border. Now we've got China thinking they're able to do something with President Xi. That hasn't happened in a hundred years.
They're bringing Saudi Arabia and Iran together. He's sitting with Russia. He's now creating the new axis of power, something we haven't seen since the 1930s, with Iran and North Korea, China and Russia. Why? Because we've got a weak leader in the White House, and we're seeing in every aspect, when America's not strong, the rest of the world is not safe.