Elon Musk slams AI ‘bias’ and calls for ‘TruthGPT.’ Experts question his neutrality.

Elon Musk slams AI ‘bias’ and calls for ‘TruthGPT.’ Experts question his neutrality.
Elon Musk slams AI ‘bias’ and calls for ‘TruthGPT.’ Experts question his neutrality.
Carol Yepes/Getty Images

(NEW YORK) — Billionaire entrepreneur Elon Musk announced plans this week to create an AI-driven conversation tool called “TruthGPT,” after criticizing the popular AI text bot ChatGPT for being “politically correct.”

“There’s certainly a path to AI dystopia, which is to train AI to be deceptive,” Musk, the CEO of Tesla and owner of Twitter, cautioned in an interview with Fox News host Tucker Carlson on Monday.

AI chatbots pose significant risks centered on political bias, since the models can generate vast amounts of speech, potentially shaping public opinion and enabling the spread of misinformation, experts told ABC News.

However, the comments from Musk underscore the fraught challenge raised by the issue, because content moderation itself has become a polarizing topic and Musk has voiced opinions that place his approach within that hot-button political context, some experts added.

“Musk is correct that if we can’t solve the truthfulness problem and the reliability problem, that poses a risk for AI safety,” Gary Marcus, a professor emeritus of psychology and neuroscience at New York University, who specializes in AI, told ABC News.

“But tying that question to political correctness might actually be a mistake,” he added. “You have to separate the truth from the politics if you want to be credible on the truth issue. It’s a mistake to try to tie the two together.”

Created by artificial intelligence firm OpenAI, ChatGPT is a chatbot — a computer program that converses with human users.

Neither Musk nor OpenAI responded to a request for comment from ABC News.

ChatGPT uses an algorithm that selects words based on lessons learned from scanning billions of pieces of text across the internet. The tool has gained popularity for viral posts that demonstrate it composing Shakespearean poetry or identifying bugs in computer code.

But the technology has also stoked controversy with some troubling results. The designers of ChatGPT programmed safeguards that prevent it from taking up controversial opinions or expressing hate speech.

Content moderation on AI poses legitimate challenges for designers, who must determine which messages are sufficiently offensive or odious to warrant intervention, experts told ABC News.

“If a product is being used by millions of people, safeguards are something the designers have to put in place,” Ruslan Salakhutdinov, a professor of computer science at Carnegie Mellon University, told ABC News.

“The question is: How do you make it fair or neutral? That’s a little bit of a judgment of the designers,” he added. “You could imagine a GPT that’s politically biased.”

Further, the responses from AI conversation tools depend heavily on the text with which the model is trained, Kathleen Carley, another professor of computer science at Carnegie Mellon University.

“There’s this view that the majority of information that it was trained on is more left-leaning and has certain political biases and certain political agendas built into it,” Carley said. “That’s where that argument is coming from.”

Musk, who co-founded OpenAI but left the organization in 2018, in a December tweet accused OpenAI of “training AI to be woke.”

While AI chatbots deserve scrutiny over political bias, Musk stands as an imperfect spokesperson for such criticism because of his own high-profile political views, some experts said.

Musk has taken up a slew of conservative stances in recent months, including an expression of support for Republican candidates in the midterm elections last year and repeated criticism of “woke” politics.

“I think what he means by ‘truth’ is ‘agrees with me,'” Oren Etzioni, CEO of Allen Institute for AI and a computer science professor at the University of Washington, told ABC News.

Still, the polarized political environment poses a challenge for any AI chatbot developer attempting to moderate responses, experts said.

“Politics as it exists today doesn’t draw lines that finely,” Eliezer Yudkowsky, a decision theorist at the Machine Intelligence Research Institute, told ABC News. “You would have to know where to draw the line in a sensible place to get AI to draw the line in a sensible place.”

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Facebook parent Meta to slash 10,000 employees

Facebook parent Meta to slash 10,000 employees
Facebook parent Meta to slash 10,000 employees
Rafael Henrique/SOPA Images/LightRocket via Getty Images

(SAN FRANCISCO) — Facebook-parent Meta began laying off workers on Wednesday as part of its latest round of job cuts announced in March, the company confirmed to ABC News.

Last month, CEO Mark Zuckerberg released plans for 10,000 job cuts over April and May, as part of what Zuckerberg described as the company’s “Year of Efficiency.”

“This will be tough and there’s no way around that,” Zuckerberg said in March, forecasting job cuts for technical workers in April and enterprise employees in May.

“My hope is to make these org changes as soon as possible in the year so we can get past this period of uncertainty and focus on the critical work ahead,” Zuckerberg added.

The personnel changes at Meta include the closure of 5,000 additional open roles that the company hadn’t hired, Zuckerberg said.

Meta has faced challenges in recent months as the company contends with a widespread drop in online ad spending and rising competition from TikTok.

The company’s shares fell 64% last year but have recovered a significant portion of those losses this year amid cost-cutting measures.

Sales at top tech firms, including Facebook, have retreated from the blistering pace attained during the pandemic, when billions across the world were forced into isolation.

Customers stuck at home came to rely on delivery services like e-commerce and virtual connections formed through social media

In turn, companies across the tech industry have announced layoffs this year affecting tens of thousands of workers.

In early January, Amazon announced plans to eliminate just over 18,000 roles, including layoffs that had been announced in November.

Alphabet Inc., the parent company of Google, said in January that it would cut roughly 12,000 jobs from its global workforce.

Meta drew criticism last year from some investors over its large investment in its metaverse project, which has yet to deliver significant returns.

Brad Gerstner, whose fund Altimeter Capital holds hundreds of millions of dollars worth of Meta stock, sharply criticized the company’s strategy in an open letter in October.

“Meta has drifted into the land of excess – too many people, too many ideas, too little urgency,” Gerstner wrote.

Meta’s most recent quarterly earnings report, reflecting a three-month period ending in December, recorded a third-consecutive quarter of falling revenue but exceeded analyst expectations.

The company reported 2 billion daily active users — a figure that also surpassed expectations.

“There’s going to be some more we can do to improve our productivity, speed and cost structure,” Zuckerberg said on the earnings call in February.

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US charges alleged Hezbollah financier with evading sanctions through art and diamonds

US charges alleged Hezbollah financier with evading sanctions through art and diamonds
US charges alleged Hezbollah financier with evading sanctions through art and diamonds
RapidEye/Getty Images

(WASHINGTON) — The Justice Department on Tuesday charged a Hezbollah financier and eight others with evading sanctions and laundering almost $160 million, in some cases through artwork and diamonds.

Prosecutors alleged that Nazem Ahmad continued to acquire high-level artwork and diamonds through U.S. entities and provided access to international financial markets to a terrorist organization.

Ahmad was also an associate of high-level members of Hezbollah, a Lebanon-based terrorist group that was designated by the United States as a Foreign Terrorist Organization and Specially Designated Global Terrorist, the Justice Department said.

He was also sanctioned by the Treasury Department in 2019, barring him from doing any business in the United States.

At a news conference on Tuesday, senior leaders from the Department of Homeland Security, Department of Commerce, Treasury and State made clear they want him captured, even offering a $10 million reward for his capture.

“Ahmad and his network used a complex web of unlawful business entities to buy valuable artwork and secure U.S. based diamond grading service all while hiding their involvement in and benefit from these activities to the tune of approximately $160 million, while also providing the terrorist organization Hizballah access to U.S. and international financial markets,” Deputy Secretary of Homeland Security John Tien told reporters.

Court documents allege that Ahmad used a U.S.-based diamond-grading service to affect the sales price of certain diamonds he would allegedly give to have serviced. He also obtained artwork after he was sanctioned in 2019 valued at more than $450,000, prosecutors said, while an additional $780,000 in artwork from U.S. persons located outside the United States was also acquired in violation of terrorism sanctions.

“The defendants and other conspirators engaged in this scheme to benefit Ahmad and themselves while at the same time evading terrorism-related sanctions, to avoid the payment of taxes to foreign governments on the import of valuable goods into foreign countries, and to make it more difficult for the United States government to carry out its lawful functions,” a press release from the Justice Department said.

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Netflix announces end to DVD mailing service

Netflix announces end to DVD mailing service
Netflix announces end to DVD mailing service
Andrew Harrer/Bloomberg via Getty Images

(NEW YORK) — It’s the end of an era.

Netflix announced Tuesday that it would be sending its last red envelope on Sept. 29, 2023, ending its DVD mailing service after 25 years.

“Our goal has always been to provide the best service for our members but as the business continues to shrink that’s going to become increasingly difficult,” the company said in part of a statement shared with ABC News.

The now-ubiquitous streaming company began sending rented DVDs by mail in April 1998. Nearly a decade after its first disc was shipped out in a red envelope (that movie was Beetlejuice, by the way), the company introduced its online streaming and video service in 2007.

Since then, Netflix says it has sent over 5.2 billion mailer DVDs and accrued more than 230 million paid memberships for its streaming services. The company is currently valued at around $150 billion.

The move comes as the streaming giant continues to make its foray into producing and investing in original content. In March, Netflix won six major Oscars at the 95th Academy Awards, including best international feature for All Quiet on the Western Front and best animated feature film for Guillermo del Toro’s Pinocchio.

“We feel so privileged to have been able to share movie nights with our DVD members for so long, so proud of what our employees achieved and excited to continue pleasing entertainment fans for many more decades to come,” the company said in a statement on Tuesday, in part.

Netflix released its Q1 earnings report on April 18 at 6 p.m. ET.

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A Hollywood writers’ strike looms: What to know

A Hollywood writers’ strike looms: What to know
A Hollywood writers’ strike looms: What to know
A scene from “Abbott Elementary.” — Scott Everett White/ABC

(LOS ANGELES) — Hollywood writers are calling on the studios to show them the money.

Thousands of television and movie writers voted overwhelmingly to authorize a strike when their contracts run out on May 1, unions representing the writers said on Monday.

The move sets TV creators on a collision course with the major studios as an industry-wide shift to streaming reorients the way shows are made and monetized.

Meanwhile, a strike would carry implications for millions of viewers, immediately disrupting some shows and delaying the development of others.

Here’s what to know about the impending strike, how a previous labor dispute played out and what it all means for TV offerings:

Why are Hollywood writers threatening to strike?

The contract dispute follows a decade-long shift to streaming that has slashed writer pay and worsened working conditions, the unions, which belong to East and West Coast branches of the Writers Guild of America, said in a statement.

Before the emergence of streaming, a studio typically ordered between 13 and 22 episodes for a season of television, allowing writers to work on a given project for as many as 40 weeks, Justin Halpern, a showrunner on “Abbott Elementary” and a union member, told ABC News.

Currently, studios order as few as six episodes, forcing writers to string together multiple projects and depend on savings in between jobs, he added.

“It’s becoming just a gig economy,” said Halpern, who has written for television for nearly 15 years.

“There’s a misconception in the world that writers are this really rich group of people who all drive BMWs and send their kids to private schools,” he added. “A lot of our members can’t even pay their rent.”

The proliferation of shows has also given rise to an industry practice known as the “mini-room,” in which a studio assembles a small group of writers to create a show before it gets greenlit.

Studios often pay the minimum permissible for work in mini-rooms, but oftentimes a production company lets go of some of the writers even if a show moves forward, leaving them cut out of additional pay as the show moves toward completion, Halpern said.

“Pay us a premium for being in these rooms because that’s the hardest work to do as a writer,” Halpern said.

The Alliance of Motion Picture and Television Producers, or AMPTP, which negotiates on behalf of TV and movie production companies, told ABC News in a statement that the strike vote amounts to a bargaining tactic.

“A strike authorization vote has always been part of the WGA’s plan, announced before the parties even exchanged proposals,” the group said. “Its inevitable ratification should come as no surprise to anyone.”

“Our goal is, and continues to be, to reach a fair and reasonable agreement,” the AMPTP added.

What happened the last time Hollywood writers went on strike?

The last time Hollywood writers authorized a strike, in 2017, the two sides reached a final-hour agreement that averted a work stoppage.

The most recent full-fledged strike, however, took place in 2007 and lasted 100 days, costing the California economy an estimated $2.1 billion.

Halpern said he hopes the writers avoid a strike this time around but he has “no idea” how long a potential strike could last.

“It’s up to our membership and it’s up to the studios,” he said.

What would a strike mean for what’s on TV?

A strike would immediately disrupt some daily programs that depend on writing staff, such as late shows.

It would also delay the development of scripted TV, potentially pushing back the release of new shows or forthcoming seasons of longstanding programs.

“The writers would stop work,” Halpern said. “Pencils down.”

“It would halt production on a lot of your favorite shows,” he added. “But I would hope that people understand that this is a labor action.”

Disney is the parent company of ABC News.

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McDonald’s announces changes to classic menu items

McDonald’s announces changes to classic menu items
McDonald’s announces changes to classic menu items
ermingut/Getty Images

(NEW YORK) — McDonald’s burgers have been an American classic since 1955.

Now, the iconic fast food chain is planning some changes, including how they cook their quintessential burgers.

For their signature Big Mac, McDouble, cheeseburger and hamburger, McDonald’s is promising softer buns, caramelized patties cooked with white onions on the grill, cheese slices that melt more and even an extra special sauce.

McDonald’s claims the improvements are so good even the Hamburgler is coming out of retirement to steal a bite.

The updated menu items have already been rolling out in restaurants along the West Coast, according to McDonald’s, and a few lucky ABC staffers and their families stopped by the Golden Arches in Los Angeles for a taste test.

Staffers agreed the food was indeed “very saucy” and “very cheesy” and one staffer’s young daughter added, “Yeah, very good!”

The McDonald’s changes are coming at a time when the burger business is heating up and McDonald’s continues to hang on to its market shares amid competition from other popular chains like Shake Shack, In-N-Out Burger and Five Guys.

Business experts like strategist Kathleen Griffith said these tweaks may help McDonald’s keep up with its rivals.

“Being that burger that people know, pulling out the original mascots, that sort of strategy is never going to get you into trouble when you work on driving a consistent customer experience. It’s a good recipe,” Griffith said.

The rolling launch is anticipated to be completed by 2024 and while McDonald’s is not planning to increase prices for these burgers, some individual franchises may update prices.

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Classified documents leak on social media sparks debate over government monitoring

Classified documents leak on social media sparks debate over government monitoring
Classified documents leak on social media sparks debate over government monitoring
Carol Yepes/Getty Images

(NEW YORK) — The leak of dozens of highly classified documents on the social media platform Discord has elicited concern over online spaces where users can post sensitive government material without notice of authorities.

Jack Teixeira, a 21-year-old airman in the Massachusetts Air National Guard, allegedly posted documents as early as December in a private Discord server, akin to a members-only chat room, according to charging documents.

Defense Secretary Lloyd Austin was first informed of the leak months later in early April, he said at a press conference last week.

Teixeira was charged on Friday with unauthorized retention and transmission of national defense information and willful retention of classified documents, which collectively carry a maximum of 15 years in prison.

The blockbuster leak underscores the challenge posed by social media platforms like Discord on which sensitive material can spread from private chat rooms into the public square, legal and national security experts said.

However, some experts and civil liberties advocates cautioned that expanded government surveillance of social media could violate privacy protections and limit free speech.

In an online statement on Friday, Discord Chief Legal Officer Clint Smith acknowledged the difficulty posed by the presence of sensitive government material but said the company had removed posts in connection with the Russia-Ukraine leak.

“Classified military intelligence documents pose a significant, complex challenge for Discord as they do for other online platforms – only authorized government personnel can determine whether a document is classified, unclassified, or even authentic,” Smith said.

“However, what is clear is that unauthorized disclosure of classified government documents violates Discord’s Terms of Service, which prohibit the posting of illegal content on our platform. Because of this, in connection with this incident, we have removed content, terminated user accounts, and are cooperating with the efforts of the United States Departments of Defense and Justice in their investigation of this incident,” he added.

The Biden administration, meanwhile, is considering an expansion of its surveillance of social media sites and chat rooms in the aftermath of the leak, NBC reported last week.

Discord, a platform with more than 150 million users worldwide, grew in popularity during the pandemic. Popular with young people and gamers, the site hosts different servers, or online communities, many of which are private.

In a 2021 cybersecurity report, the app drew scrutiny over its potential for enabling data theft.

“The Discord domain helps attackers disguise the exfiltration of data by making it look like any other traffic coming across the network,” a study from Cisco’s Talos cybersecurity team found.

The federal government faces robust legal limits in monitoring sites like Discord, however, since the U.S. cannot surveil private domestic communications without a warrant, James Lewis, a former senior intelligence official and a fellow at the Center for Strategic and International Studies, told ABC News.

“Here’s an easy rule of thumb: Can you get it in a Google search?” Lewis said. “If the answer is ‘yes,’ it’s public; if you can’t, it’s private. Then you go down the route of a warrant.”

“If you had a private club and gathered around the table to talk, the government doesn’t have a right to break into that club,” he added.

In turn, social media platforms such as Discord face government pressure to monitor for illicit material but they encounter formidable challenges due in part to user preferences for data privacy, Eric Goldman, a Santa Clara University law professor who studies social media and content moderation, told ABC News.

“Social media providers are stuck in the middle. On the one hand, we want them to police against the dissemination of classified information,” Goldman said. “On the other hand, we don’t want them removing documents at the government’s request.”

While the images of the documents appeared to originate on a private Discord server, they later spread on publicly accessible social media platforms, such as 4chan and Twitter.

Enhanced government surveillance online could hinder free speech across social media, Patrick Toomey, deputy director of the National Security Project at the American Civil Liberties Union, told ABC News.

“The disclosure of classified documents on one gaming website doesn’t justify pervasive monitoring of our social media by intelligence agencies,” Toomey said.

“Suspicionless monitoring of social media chills speech and threatens Americans’ right to live without fear of constant government scrutiny,” he added.

Focus on social media in the aftermath of the leak overlooks the issue of how Texeira got a hold of the trove of documents in the first place, said Lewis, of the Center for Strategic and International Studies.

“Why did a 21-year-old air national guardsmen have access to this material?” Lewis said. “That’s probably a better place to start because it doesn’t raise as many civil liberties concerns.”

While reexamining the pool of employees with access to highly classified information, the U.S. could also reconsider how it monitors such employees after granting them access, Lewis said.

“When you work for the government, particularly if you’re given security clearance, they usually make you sign a form giving them a right to access your bank account and other information,” he said.

“It seems like there’s a need for employees to expand that to include some monitoring of social media,” he added.

Copyright © 2023, ABC Audio. All rights reserved.

Here’s what we know right now about Amazon Prime Day 2023

Here’s what we know right now about Amazon Prime Day 2023
Here’s what we know right now about Amazon Prime Day 2023
stockcam/Getty Images

(NEW YORK) — Are you gearing up for one of the biggest shopping events of the year? Here’s what we know about Amazon Prime Day right now.

Though the company has not made its official announcement, Amazon Prime Day historically is in mid-July originally celebrating Amazon’s Birthday, which is July 5.

As we creep towards the big day we are breaking down everything you need to know to prepare for Prime Day 2023.

Be sure to check back as more information is released and deals start becoming available to shop.

What is Amazon Prime Day?

The 48-hour shopping event gives Prime members exclusive access to deals on Amazon.com across all categories including fashion, home, kitchen products and more.

When is Amazon Prime Day 2023?

Though the company has not made its official announcement, Amazon Prime Day historically is in mid-July.

Best prime day deals 2022

In past years, Amazon devices such as Echo systems, Fire Sticks and Kindles were deeply discounted. It is a great time to make purchases on electronics that you have been waiting to snag.

How do I score the best deals during Prime Day?

During the 48 hours of sale fun, there will be multiple discounts to explore. If you take bargain hunting seriously, be sure to look out for what Amazon calls “flash deals” or “lightning sales” that are time-sensitive. While some items are on sale all day long, lightning deals will only last as long as selected products remain in stock.

Do I need to have a prime membership?

Yes, Prime Day is for Amazon Prime members only. Not a member just yet? Amazon offers a 30-day free trial of Prime membership for shoppers who want to be able to participate in Prime Day. If you are looking to make the most out of this 48-hour spectacular, signing up for a membership is the best way to go. For those online shopping lovers who are looking to save all year round, the membership is $14.99/month or $139/year. Students can register at half price for $7.49 per month.

Copyright © 2023, ABC Audio. All rights reserved.

David’s Bridal announces massive layoffs ahead of wedding season, files for bankruptcy

David’s Bridal announces massive layoffs ahead of wedding season, files for bankruptcy
David’s Bridal announces massive layoffs ahead of wedding season, files for bankruptcy
Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images

(NEW YORK) — David’s Bridal has filed for bankruptcy and announced massive layoffs just weeks before wedding season.

One of the country’s largest bridal retailers, the company revealed plans to eliminate 9,236 employees across its hundreds of stores.

“They may shut some stores down,” The Stylish Bride founder Julie Sabatino told ABC News’ Good Morning America. “If that happens, you’re probably just going to need to go a little bit further to find a David’s.”

Layoffs have already begun in Pennsylvania and will continue to roll out through Aug. 11 at up to 15 stores in the state.

“Over the last several years, we have taken meaningful strides in our transformation to fulfill the needs of the brides of today and tomorrow,” David’s Bridal CEO James Marcum said in a statement. “We have successfully modernized our marketing and customer interaction processes and driven our retail service levels to best in class.”

He continued, “Nonetheless, our business continues to be challenged by the post-COVID environment and uncertain economic conditions, leading us to take this step to identify a buyer who can continue to operate our business going forward. We are determined to stay focused on our future, because we believe we have an important role in ensuring that every bride, no matter her budget, can have her perfect dress.”

In 2022, weddings hit their highest number in four decades as the result of a pandemic backlog, according to CEO of the Wedding Report Shane McMurray.

However, not as many people are expected to tie the knot this year due to post-pandemic obstacles, such as supply chain issues, that have continued to affect the wedding industry.

“What we’re seeing right now is dresses are taking anywhere between nine and 12 months to be produced, which is a much longer lead time than we were dealing with pre-pandemic,” said Sabatino.

Many people have also opted to pivot toward changing trends that lean toward second-hand shopping or non-traditional options.

Bride-to-be Jenn Leonard told GMA she found her wedding dress at a consignment shop and saved more than $1,500 off the retail price.

“My buying this dress is actually helping out the previous bride. That is a huge thing,” said Leonard. “You know, I’ve always firmly believed in paying it forward.”

Copyright © 2023, ABC Audio. All rights reserved.

McCarthy tells Wall Street House GOP will vote on debt ceiling increase with spending cuts

McCarthy tells Wall Street House GOP will vote on debt ceiling increase with spending cuts
McCarthy tells Wall Street House GOP will vote on debt ceiling increase with spending cuts
Timothy A. Clary/AFP via Getty Images

(NEW YORK) — Speaking at the New York Stock Exchange on Monday, House Speaker Kevin McCarthy said the House will vote in “the coming weeks” on legislation to raise the debt ceiling and cut federal spending as he continued to blame President Joe Biden for not negotiating and accused him of “misleading the public.”

“I want to talk to you about the debate that’s not happening in Washington but should be happening over our national debt. It’s a debate that directly affects the lives of every American,” McCarthy said.

His latest salvo in the showdown comes as the White House has warned that, if House Republicans fail to pass a debt ceiling increase by this summer with no budget cuts attached, it would create financial chaos in world markets.

McCarthy said a $31 trillion debt is “too high” and the “problem is getting worse, not better.”

“Without exaggeration, America’s debt is a ticking time bomb that will detonate unless we take serious, responsible action. Yet how has President Biden reacted to this issue? He’s done nothing. So, in my view, he’s been irresponsible,” McCarthy said.

Biden and McCarthy met 75 days ago on Feb. 1, but the two leaders have not met or spoken about the debt ceiling since — beyond trading claims to reporters.

The president has not budged on his refusal to negotiate over the debt limit and has dismissed GOP efforts to combine a debt ceiling vote to a deal on the budget.

“Mr. President, with all due respect, enough is enough. This is not how the leader of the free world should act. Your partisan political games are provoking the very crisis you claim you want to avoid greater dependency on China, increasing inflation, and threatening Medicare and Social Security,” McCarthy said.

McCarthy says defaulting on our debt is “not an option” but blames the Biden administration for not engaging in negotiations with House Republicans.

“Make no mistake: The longer President Biden waits to be sensible, to find agreement, the more likely it becomes that his administration will bumble into the first default in our nation’s history,” McCarthy said.

McCarthy says a “no strings attached” debt limit increase will not pass.

“In the coming weeks, the House will vote on a bill to lift the debt ceiling into next year, save taxpayers trillions of dollars, make us less dependent on China, and curb high inflation — all without touching Social Security or Medicare,” McCarthy said.

He claimed the bill will limit federal spending, economic dependence on China, and the growth of spending over the next 10 years to 1% annual growth. The bill will also “claw back” billions of dollars in unused COVID-19 related spending, he said.

“Our proposal will also include restoring work requirements that ensure able-bodied adults without dependents earn a paycheck and learn new skills. That will grow our economy and help the supply chain,” McCarthy said.

This bill will be dead on arrival in the Senate. McCarthy is hoping this will bring Biden to the negotiating table.

Ahead of McCarthy’s speech on Monday, the White House accused him of “holding the economy and full faith and credit of the United States hostage.”

“Speaker McCarthy is holding the full faith and credit of the United States hostage, threatening our economy and hardworking Americans’ retirement,” White House deputy press secretary Andrew Bates said in a written statement. “A speech isn’t a plan, but it’s clear that extreme MAGA Republicans’ wish lists will impose devastating cuts on hardworking families, send manufacturing overseas, take health care and food assistance away from millions of people, and increase energy costs — all while adding trillions to the debt with tax cuts skewed to the super-wealthy and corporations.”

Bates drew attention to when former Presidents Donald Trump and Ronald Reagan spoke out against debt-ceiling brinksmanship. And he noted that reporting on what McCarthy might call for in his speech “has shown no consensus within the Republican conference.”

“MAGA House Republicans can’t even agree what they are holding the debt limit hostage over,” Bates wrote. “Their proposals are all over the map, but they all have one thing in common: devastating cuts to programs that working families rely on to lower costs and make ends meet.”

Senate Majority Leader Chuck Schumer was also slated to respond to McCarthy’s New York Stock Exchange speech, with his office saying that on Monday he’ll call on McCarthy “to stop the partisan games and show us his plan to avoid defaulting on our national debt and provoking global financial catastrophe.”

McCarthy closed out his speech on Monday saying, “Well, if there’s one thing I hope America has learned about me in these first 100 days since I was elected speaker, it’s this: I will never give up.”

He said he has “full confidence that if we limit” federal spending, the U.S. will end dependence on China, curb inflation and protect Social Security and Medicare for the next generation.

“I’m here to tell you I want a responsible, sensible debt ceiling that puts us on an economic path to make America stronger. That works for every American. But that cannot happen if the president continues to ignore the problem and he can’t continue any longer. The day is coming. I do not want to see this president bumble into a default. I want to sit down and solve the problem together,” McCarthy said.

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