Congress needs to resolve financial obligation without cutting Social Security

Congress must solve debt without cutting Social Security

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U.S. Senator Chris Coons (D-DE) talks to press reporters throughout a break from a Senate Armed Services and Foreign Relations joint instruction on the U.S. policy on Afghanistan, on Capitol Hill in Washington, February 2, 2022.

Al Drago|Reuters

WASHINGTON– Lawmakers need to attend to the trillions of dollars that comprise the nationwide financial obligation and deficit without touching Medicare, Medicaid and Social Security,Sen Chris Coons stated Monday.

“I recognize that the art of politics is finding one that both parties can support,” Coons, D-Del, informed CNBC’s “Squawk Box.” “But frankly, at the end of the day, Democrats are not going to cut benefits under Social Security.”

Coons stated Congress requirements “to find a way forward in the middle that balances revenue and spending in a positive way” following Fitch’s choice to downgrade the country’s long-lasting financial obligation this month.

The credit score firm dropped U.S. long-lasting financial obligation to AA+ from its AAA score due in part to the dragged out financial obligation ceiling dispute previously this year.