Watch: McCarthy Teaches Reporter Basic Finance Lesson

After meeting with Joe Biden at the White House, Kevin McCarthy, the new speaker of the House, taught a leftist reporter about the national debt.

Following the meeting with Biden, which lasted over an hour, McCarthy addressed the reporters outside the building.

Although McCarthy described their meeting as a positive, he noted that no agreements or promises were made.

A reporter then asked a loaded question to the speaker, suggesting that Biden is more fiscally responsible than the Republicans.

The reporter then asked the speaker if he would commit to preventing the US from going into default. This question comes as the country approaches the debt ceiling.

McCarthy masterfully responded to the reporter's question by providing an example. He said that if a parent gives their child a credit card, then they are responsible for its usage.

As the country approaches the debt ceiling, the speaker said that it's important that people pay attention to their spending.

According to McCarthy, if the country continues its current trajectory, it will end up spending $8 trillion over the next decade on interest.

The speaker noted that the country's debt is the greatest threat to the country. It currently stands at 120 percent of the country's gross domestic product, which is higher than any time in history.

Despite the high revenue that the country has been experiencing, McCarthy noted that the country is in a financial mess.

The country could have avoided going into deficit if the Democrats and Biden had implemented some spending restraint over the past couple of years.

During the previous year, the Democrats spent over $6 trillion, while Biden's first year in office saw the deficit at almost $3 trillion.

According to McCarthy, the massive spending by the Democrats and Biden has led to the country's 40-year high inflation rate.

The preceding is a summary of an article that originally appeared on Slay.

Written by Staff Reports

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