President Joe Biden said Tuesday that Republicans’ ideas for cutting the budget could undermine U.S. manufacturing and help China dominate the world economy.
Speaking at a semiconductor maker in North Carolina to highlight his own policies, Biden is trying to shape public sentiment as he faces off with House Speaker Kevin McCarthy, R-Calif., about whether the federal government should raise its legal borrowing capacity.
McCarthy sent a letter Tuesday saying that talks should start about possible spending cuts in return for the debt limit increase. Biden has said Republicans need to put forth their own budget plan before negotiations start. Without an agreement, the federal government could default on its financial obligations.