President Biden, Speaker McCarthy In Negotiations Over Debt Ceiling Increase

President Biden, Speaker McCarthy In Negotiations Over Debt Ceiling Increase

One of the most anticipated events of the week in the nation's capital was President Biden hosting Speaker Kevin McCarthy to discuss the debt ceiling and GOP demands for spending cuts.

Both men came away from the meeting saying that it went well, which is not necessarily what all were expecting.

No one in the state's congressional delegation has better insight into this meeting and the two people involved than Congressman Tom Cole.

"It was kind of like a first date," Cole said in an interview Thursday, "and I think they liked one another."

Cole (R-OK4) believes President Biden should have established a relationship with Speaker McCarthy sooner, but said now is not too late. Cole said the two lifelong public servants have similar personalities.

"They are both, I will tell you -- I know them both -- hail-fellow-well-met, they’re pleasant to be around," Cole said, "so I actually think they have the basis of a relationship."

The much anticipated meeting lasted more than an hour Wednesday afternoon at the White House, with each leader laying out his vision.

"And I believe after laying both out," Speaker McCarthy (R-CA) told reporters after the meeting, "I can see where we can find common ground."

At the National Prayer Breakfast Thursday morning, the president followed up by encouraging members to treat each other with respect.

"That's what Kevin and I are gonna do," Biden told the audience. "Not a joke. We had a good meeting yesterday."

A 'good' meeting was not a foregone conclusion, with McCarthy publicly stating in recent weeks that Republicans would not support any increase in the debt ceiling without an agreement to also cut discretionary spending.

The president and Democrats were responding defiantly, saying there can be no conditions placed on paying off debts already incurred.

"Look, we don’t want--we don’t intend to default on the full credit of the United States," said Cole, explaining the GOP's position, "but we also don’t intend to say, 'Okay, the credit card's hit its maximum...we’re just going to automatically renew it' without making any changes in spending priorities."

And Cole said fortunately it seems there is mutual agreement to begin discussing possible changes months ahead of the default deadline.

"That’s a good thing," said Cole, "and I take what happened this week as promising."