'Worst House Speaker in history': Twitter demolishes Kevin McCarthy's NYSE debt ceiling speech
United States House of Representatives Speaker Kevin McCarthy (R-California) traveled to the New York Stock Exchange on Monday to discuss the partisan battle over the Treasury Department's debt ceiling.
Republicans routinely mischaracterize the self-imposed limit as "new spending," even though it only covers the federal government's ability to service existing debts. GOP lawmakers have also reliably refused to agree to tax hikes on the highest American earners, instead insisting on cutting free school lunches and other programs that benefit vulnerable people.
McCarthy, however, blamed President Joe Biden for the impasse, which only Congress can resolve.
READ MORE: Republicans have no coherent 'fiscal proposals' as they 'hold the debt ceiling hostage': columnist
"Make no mistake, the longer President Biden waits to be sensible, to find an agreement, the more likely it becomes that this administration will bumble into the first default in our nation's history," McCarthy told a roomful of Wall Street financiers.
"Addressing the debt requires us to come together, find common ground, and reduce spending," the speaker continued. "Let me be clear. Defaulting on our debt is not an option, but neither is a future of higher taxes, higher interest rates, more dependency on China – an economy that doesn't work for working Americans."
Following the conclusion of his remarks – which included a call for enacting work requirements for welfare recipients – McCarthy sat down for an interview with NYSE President John Tuttle.
McCarthy's speech triggered an explosion of anger from journalists and casual observers on social media.
READ MORE: House Republicans may be too 'chaotic' to avoid a 'calamitous' debt default: journalist
Ian Millhiser: "Kevin McCarthy literally going to the New York Stock Exchange to pitch cutting food stamps for poor people is... well, there's a reason why people think Kevin is an idiot."
Melania D'Arrigo: "There's a reason why Kevin McCarthy is talking to the executives on Wall St and not the voters on Main St. Wall St PACs alone have given Kevin McCarthy over $1 million in campaign donations over the last 5 years. Bribery is called lobbying when it's done by Wall St."
Santiago Mayer: "Kevin McCarthy is literally going to Wall Street to explain how he's holding the economy hostage to try and hurt regular Americans. You can't make this up. McCarthy is going to Wall Street to talk about how he wants to cut funding for education, Medicaid, and Social Security. He is talking to Wall Street about how he will crash the economy to lower their taxes. Kevin McCarthy is a fundamentally unserious person. Even his own caucus regards him as a joke. But he is the Speaker, and the Speaker is willing to crash the economy in order to hurt average Americans and help his rich donors."
Aaron Parnas: "Today, Kevin McCarthy gave a speech to Wall Street executives demonstrating how he is actively holding the economy hostage. Kevin McCarthy has no plan and no budget. He has failed as Speaker of the House."
Scott Dworkin: "Kevin McCarthy just proved once again how much of an international embarrassment he is while incoherently ranting at the New York Stock Exchange. Also a great reminder that Dems need to win back the House in 2024."
Stay Trippy Little Hippie: "I hope he gets the NY welcome that he deserves."
BrooklynDad_Defiant!: "Kevin McCarthy is a complete joke, and easily the worst House Speaker in history."
The Mighty Fetta: "This guy trying to shift blame but we all know it'll be Republicans' fault."
John Laprise, PhD: "Don't be fooled by McCarthy's rhetoric: Congress passes bills and Presidents sign them into law. McCarthy has to pass a bill the Senate will also pass before Biden ever sees it. McCarthy has to find common ground with Schumer."
christina m. brooks: "Umm, last I looked the Republicans have not even put an offer on the table. How do you negotiate a bill or agreement when the other side has no idea what they want?"
Catherine L.: "You. Kevin McCarthy is responsible for raising the debt ceiling, NOT President Biden."
Tralfamadorian Philosophy: "I'm pretty sure the men & women in that room absolutely know that Kev is full of sh*t. It is not up to the President to enact bills. It is up to the legislature to do that. So, Kevin. JUST DO IT! Quit whining. Put something before the President to sign. Ball's in your court."
Tracy C.: "An 'agreement' means two parties came together with ideas and either negotiated or agreed on them. Remind me again, where is the Republicans' 'ideas' plan on what specifically they want? Cause all I've heard is that they want to do away with EVERYTHING that Dems have done."
Watch below or at this link.
\u201cHouse Speaker Kevin McCarthy addresses the debt limit cliff at the New York Stock Exchange:\n\n\u201cThe longer President Biden waits to be sensible to find an agreement, the more likely it becomes that this administration will bumble into the first default in our nation\u2019s history.\u201d\u201d— The Recount (@The Recount) 1681741571
READ MORE: 'Soft food': Kevin McCarthy mocks President Joe Biden's age while trying to cut spending
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