WATCH: Ahead of Biden’s State of the Union, House Speaker McCarthy demands debt limit talks

One day ahead of President Joe Biden’s State of the Union address, House Speaker Kevin McCarthy repeated his demand that Biden come to the table and negotiate a debt limit increase.

Watch McCarthy’s remarks in the player above.

“We can have reckless spending or we can have responsibility,” McCarthy said late Monday. “We cannot have both.”

The president and new speaker recently had a productive first sit-down but are at an impasse over the nation’s borrowing limit. Republicans have refused to raise the statutory debt limit unless Biden accepts cuts in federal spending. Biden has said raising the cap is not up for negotiation, and Congress must pay the nation’s bills or the country will face economic calamity.

ANALYSIS: What is the debt ceiling?

“The problem only gets solved when both parties come to the table,” McCarthy said.

He also said that Biden favored negotiations when he was vice president and sat down with Republicans in 2011 to raise the debt ceiling.

“We must move towards a balanced budget and insist on genuine accountability for every dollar we spend,” McCarthy said. “Future generations deserve nothing less,” he said.