Biden calls Republican lawmakers 'fiscally demented'

President Joe Biden lashed out at Republican lawmakers Monday as being "fiscally demented," in an early volley at the opposition party now controlling the House of Representatives.

He said some of the "very first" legislation proposed by the House Republicans would further enrich the wealthy while adding to the tax burden of the middle class.

"These guys are fiscally demented," Biden said. "They don't quite get it."

While Republicans like to portray themselves as fiscally conservative and deride Democrats as the "big-spending party," Biden said the reality was different.

"I reduced the deficit last year -- $350 billion. And this year, the federal deficit is down one-trillion-plus dollars. Hear me. That's a fact," he said.

His remarks came in an address at a Washington hotel to an annual gathering honoring Martin Luther King Jr on the holiday that celebrates the late civil rights leader.

They also came two days after Treasury Secretary Janet Yellen said she would have to take "extraordinary measures" to avert a government debt default this week.

Biden said Friday he would not negotiate with Republicans who threaten to use the debt problem for leverage to demand budget cuts, saying, "It should not be a political football."

Past stand-offs over the debt ceiling have led to government shutdowns.

The 80-year-old president, who is expected to announce soon whether he will seek re-election in 2024, said Monday that he was "ready to work" with Republicans.

But he made clear he was "disappointed" by legislative proposals he said would "help the wealthy people, the big corporations... at the expense of ordinary, middle-class taxpayers."

Biden has promised to veto any such legislation, including efforts to cut tax-enforcement funding to the Internal Revenue Service, should it reach his desk.

He also blasted Republican talk of replacing income taxes with a national sales tax, as is common in Europe.

"They want a national sales tax," he said, in a tone of disbelief. "I know if I say that, it sounds like, what is Biden making up here?"

And yet, he said, "We're gonna talk about big-spending Democrats again?"