Biden and McCarthy clash over debt limit crisis.

President Biden accused House Speaker Kevin McCarthy of risking default on the national debt by threatening to lift the debt limit only if Biden agrees to spending cuts. McCarthy vowed not to let the US default on its obligations and blamed the president for the ongoing showdown. Biden criticized McCarthy's speech on Wall Street and proposed to raise taxes on wealthy Americans and corporations to grow aid programs like Medicare. The two are miles apart on a deal, and it's unclear if McCarthy can get a debt limit bill or GOP budget through the House.