House Budget Chairman Paul Ryan (R-Wis.) and President Obama got into a heated disagreement, with Ryan accusing the president of engaging in “demagoguery” of his Medicare plan during a private meeting at The White House, according to The Los Angeles Times.

Ryan – a Tea Party favorite – reportedly got a standing ovation from the House Republican caucus during the meeting.

“I said we’ve got to take on this debt and if we demagogue each other at the leadership level, then we’re never going to take on our debt,” Ryan told a group reporters following the meeting.

“I simply explained what our plan is, how it works,” Ryan said. “It’s been misdescribed by the president and many others. So we simply described it to him what it is we’ve been proposing so that he hears from us how our proposal works.”

White House press secretary Jay Carney later said that Obama has no intention of changing his position that Ryan’s plan would essentially “end Medicare as we know it.”

The Treasury Department confirmed its warning Wednesday that August 2nd is the day the nation’s debt-ceiling will shatter, leaving the country in uncertain economic territory.

The House on Tuesday defeated a $2.4 trillion increase of the debt ceiling. According to Politico, all 236 Republicans and 82 Democrats – including House Minority Leader Nancy Pelosi (D-Calif.) and House Minority Whip Steny Hoyer (D-Md.) – opposed the bill.