McCarthy to Biden: Cuts to Social Security & Medicare Not in Debt Ceiling Negotiations - FOX Business
Contradicting an assertion by the Biden Administration, Republican Speaker of the House Kevin McCarthy emphatically rejected the possibility of cuts to either the Social Security program or Medicare program being included in negotiations over raising the national debt ceiling. But McCarthy was equally emphatic that raising the debt ceiling must also address the severe budget deficit to stem the ever-increasing national debit, which now stands at over $31 trillion.
Notwithstanding the Speaker’s position, Social Security reform must be address soon or the program will become insolvent in about 10 years, resulting in an across-the-board cut in everyone’s Social Security benefits. So, while Social Security reform will apparently not be included in debt ceiling negotiations, it is nevertheless a crucial issue which much be addressed soon to restore the program to solvency.
This FOX Business article by Kristen Altus discusses Speaker McCarthy’s commitment to exclude Social Security and Medicare cuts from debt ceiling negotiations.