President Joe Biden said at the White House Wednesday he was unwilling to raise the federal deficit with his proposed multi-trillion dollar spending plans and so defended his massive tax hikes.
“I’m willing to compromise,” he said. “But I’m not willing to not pay for what we’re talking about. I’m not willing to deficit-spend.”
The president spoke about negotiations with Republicans over his planned $2.3 trillion jobs bill and his $1.8 trillion plan to expand entitlements.
He grinned broadly when asked about Senate Minority Leader Mitch McConnell’s statement Wednesday that he would work to oppose Biden’s agenda.
“One hundred percent of my focus is on stopping this new administration,” McConnell told reporters, adding that, “the president may have won the nomination, but Bernie Sanders won the argument” about socialism.
Biden said he would invite McConnell and House Minority Leader Kevin McCarthy to meet with him at the White House next week. He chided Republicans for cutting taxes for the wealthy and corporations.
“My Republican friends had no problem voting to pass a tax proposal that expires in 2025 that cost $2 trillion dollars,” he said.
Biden argued that dramatic federal spending for free community college education, universal free pre-school, and free daycare for working parents would help grow the economy.
“I’m going to have to be able to explain this and I’m going to keep banging at it,” he said, adding, “I think most of you understand — whether you agree with me or not, I think you understand what I’m saying.”