House Speaker Kevin McCarthy on Wednesday laid out the various problems facing the Biden administration how there is no plan in place to meet and discuss increasing the debt ceiling on "The Bottom Line."

GOP, DEMS CLASH OVER REPUBLICANS PLAN TO AVOID DEBT DEFAULT: 'ECONOMIC CHAOS'

HOUSE SPEAKER KEVIN MCCARTHY: He [President Biden] refuses to step forward because it only makes the problem even greater if he ignores it. And think about it. You named a lot of different problems. 

The reason we have a bank problem because the Democrats spent $5.9 trillion-- brought us inflation. With inflation, interest rates go up, banks coming problems. What else has he done? 

We're paying more for gasoline because of his energy policy. We've got more Americans dying because of fentanyl, because of his open border. Now we've got China thinking they're able to do something with President Xi. That hasn't happened in a hundred years. 

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They're bringing Saudi Arabia and Iran together. He's sitting with Russia. He's now creating the new axis of power, something we haven't seen since the 1930s, with Iran and North Korea, China and Russia. Why? Because we've got a weak leader in the White House, and we're seeing in every aspect, when America's not strong, the rest of the world is not safe.