Biden says McCarthy risking default on national debt: 'What are MAGA Republicans doing in Congress?'

Earlier this year, House Speaker Kevin McCarthy and President Joe Biden seemed to agree they wouldn't negotiate the debt ceiling and federal spending fight in the press.

This week has undoubtedly shown a shift in strategy.

McCarthy spoke to reporters and Wall Street CEOs Monday at the New York Stock Exchange, where he said House Republicans will lift the debt limit if Biden agrees to spending cuts. He vowed he would not let the U.S. default on its obligations, such as Social Security payments and military paychecks, and blamed the president for the ongoing showdown.

Biden, striking back Tuesday, accused McCarthy of threatening to become the first speaker to default.

"He’s threatened to be the first one to default on the debt, which would throw us into a gigantic recession and beyond unless he gets what he wants in the budget. Folks, you’ve got to ask yourselves, what are MAGA Republicans in Congress doing?" Biden said during comments in the Rose Garden at the White House.

OnPolitics: Will House Speaker Kevin McCarthy unite GOP behind plan to raise the debt ceiling?

After McCarthy's Wall Street trip, Biden heads to union shop

In another contrast to McCarthy, who gave a debt limit speech Monday on Wall Street, Biden will visit a union training center Wednesday in Maryland to offer his rebuttal.

McCarthy in New York Monday said the House would vote in the next couple weeks to lift the debt ceiling into 2024 and craft a plan to limit federal spending. He said the GOP plan wouldn't cut Social Security or Medicare. But Republicans do want to pass stricter work requirements for government aid programs such as the Supplemental Nutrition Assistance Program, which is often referred to as food stamps and serves as the country's largest food assistance program.

Biden criticized the optics for McCarthy's speech Tuesday and made comments that showed the differences between House Republicans who want to cut federal programs and a president who wants to invest in them.

"He did not tell the wealthy or the powerful on Wall Street that it was finally time for them to start paying their fair share in taxes. That didn’t come up, other than saying they’re going renew the $2 trillion tax cut," Biden said. "Instead, he proposed huge cuts to important programs that millions of Americans count on."

The president is expected to tout his budget plan in Maryland Wednesday. His proposal would raise taxes on wealthy Americans and corporations and grow aid programs like Medicare.

Getting the votes: Speaker McCarthy and House GOP race to unveil and unite behind debt ceiling proposal

Debt limit fight at a standstill

Biden and McCarthy are miles apart on a deal.

It's also unclear if McCarthy can get a debt limit bill or GOP budget through the House, where the most conservative flank of lawmakers have already vocally opposed any plan that raises the debt limit without cuts.

Biden has said he will not negotiate to raise the debt ceiling, but he did say he would meet with McCarthy to discuss spending once Republicans produce a budget.

Contributing: Joey Garrison

'A ticking time bomb': House Speaker Kevin McCarthy says House will vote on debt limit

Candy Woodall is a Congress reporter for USA TODAY. She can be reached at cwoodall@usatoday.com or on Twitter at @candynotcandace.

This article originally appeared on USA TODAY: Debt limit crisis: Biden slams McCarthy, MAGA Republicans for threats