CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/b> <\/p>\n\u201cThe debt we’re paying on \u2014 and we’re gonna have a little discussion about that with the new majority leader of the House \u2014 has accumulated over 200 years, over 200 years, not a joke,\u201d Biden said after meeting with a group of mayors at the White House. \u201cThat’s what the national debt is, over $31 trillion, but it’s over 200 years, and one-quarter of that debt \u2014 one-quarter of it was accumulated in the four years of my predecessor.\u201d <\/p>\n
The United States is expected to reach the debt limit sometime early this summer, raising the risk of a default, and the Treasury Department has already begun to use “extraordinary measures” to give Washington more time to hammer out a deal. McCarthy wants to negotiate spending cuts in exchange for a higher debt ceiling, while the White House has insisted that the borrowing limit be lifted “without conditions.”<\/p>\n<\/p><\/div>\n