Defaulting On Our Debt Is Not An Option: McCarthy

House Speaker Kevin McCarthy has criticized President Biden for not taking action to address the national debt, which he claims is a ticking time bomb. The national debt is now $31 trillion, more than the entire economy of America, and unsustainable without responsible action, McCarthy warns. He accused the president of embracing a fantasy that debt doesn't matter, money can be created out of thin air, and higher taxes can solve the problem caused by reckless spending. McCarthy believes that the president's approach is irresponsible and that serious action is needed to prevent the national debt from detonating.