{"id":1829362,"date":"2023-01-30T18:20:20","date_gmt":"2023-01-30T23:20:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1829362"},"modified":"2023-01-30T18:20:54","modified_gmt":"2023-01-30T23:20:54","slug":"reforming-social-security-and-medicare-off-the-table-in-debt-negotiations-mccarthy-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reforming-social-security-and-medicare-off-the-table-in-debt-negotiations-mccarthy-says\/","title":{"rendered":"Reforming Social Security And Medicare \u2018Off The Table\u2019 In Debt Negotiations, McCarthy Says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freforming-social-security-and-medicare-off-the-table-in-debt-negotiations-mccarthy-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1829362&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p>House Speaker <a href=\"http:\/\/dailywire.com\/topic\/kevin-mccarthy\" target=\"_blank\" rel=\"noopener\">Kevin McCarthy<\/a> (R-CA), said that spending cuts would be to <a href=\"http:\/\/dailywire.com\/topic\/social-security\" target=\"_blank\" rel=\"noopener\">Social Security<\/a>  <a href=\"http:\/\/dailywire.com\/topic\/medicare\" target=\"_blank\" rel=\"noopener\">MedicAre<\/a> are \u201coff the table\u201d As lawmakers try to finance the government while reducing its deficits.<\/p>\n<p>McCarthy will meet with the President <a href=\"http:\/\/dailywire.com\/topic\/biden-administration\" target=\"_blank\" rel=\"noopener\">Joe Biden<\/a> Wednesday: Possible budget cuts following the elections <a href=\"http:\/\/dailywire.com\/topic\/debt-ceiling\" target=\"_blank\" rel=\"noopener\">debt ceiling<\/a>A cap on the arbitrary amount <a href=\"http:\/\/dailywire.com\/topic\/national-debt\" target=\"_blank\" rel=\"noopener\">national debt<\/a> Congress exceeded the limit of almost $31.4 trillion. Multiple times, the lawmaker stated this during an <a href=\"https:\/\/www.youtube.com\/watch?v=e8FaXFR0jRg\" target=\"_blank\" rel=\"noopener\">Interview<\/a> CBS senior foreign correspondent Margaret Brennan said Sunday that Republicans wouldn&#8217;t offer to lower allocations for Medicare and Social Security.<\/p>\n<p>\u201cLet\u2019s take those off the table,\u201d McCarthy answered a question about the programs. \u201cIf you read our Commitment to America, all we talk about is strengthening Medicare and Social Security.\u201d<\/p>\n<p>Social Security, Medicare, other health initiatives, accounted for 46% of federal budgets during the previous fiscal year, according the <a href=\"https:\/\/fiscaldata.treasury.gov\/americas-finance-guide\/federal-spending\/\" target=\"_blank\" rel=\"noopener\">Data<\/a> From the Treasury Department. According to an article by the Treasury Department, to balance the budget and exempt defense, veteran benefits, Social Security, Medicare, and Medicare from cuts all federal spending must be cut by 85%. <a href=\"https:\/\/www.dailywire.com\/news\/federal-spending-must-be-cut-26-to-balance-budget-even-more-to-keep-core-social-defense-programs-intact-analysis\" target=\"_blank\" rel=\"noopener\">Analysis<\/a> The Committee for a Responsible Federal Budget.<\/p>\n<p>McCarthy, who preside over a small majority in the House of Representatives expressed willingness to examine defense programs for wasteful spending. \u201cI want to make sure we\u2019re protected in our defense spending, but I want to make sure it\u2019s effective and efficient. I want to look at every single dollar we\u2019re spending, no matter where it\u2019s being spent. I want to eliminate waste wherever it is,\u201d He went on. \u201cLike every single household, like every single state, we shouldn\u2019t just print more money. We should balance our budget.\u201d<\/p>\n<p>The Committee for a Responsible Federal Budget stated that in order to preserve defense and veteran spending, there would need to be 33% spending reductions for all federal programs, including Medicare and Social Security. As a result, the average annual benefit for a retiree would drop by $13,000 and as many as 25,000,000 Medicare beneficiaries would lose their eligibility.<\/p>\n<p>Janet Yellen is Treasury Secretary <a href=\"https:\/\/www.dailywire.com\/news\/very-irresponsible-yellen-blasts-house-republicans-for-wanting-spending-cuts-amid-debt-showdown\" target=\"_blank\" rel=\"noopener\">Warned<\/a> Legislators that \u201cextraordinary measures\u201d The measures taken by her agency to maintain the government&#8217;s financial viability will only last until June. Brennan asked McCarthy whether he would promise to not default on his obligations at any cost.<\/p>\n<p>\u201cWe have hundreds of billions of dollars. This won\u2019t come to fruition until some time this June. So the responsible thing to do is sit down like two adults and start having that discussion. Unfortunately the White House was saying before that they wouldn\u2019t even talk. I\u2019m thankful that we\u2019re meeting on Wednesday, but that\u2019s exactly what we should be doing,\u201d McCarthy replied. \u201cWhat has happened with the debt limit is we\u2019ve reached our credit card limit. Should we just continue to raise the limit, or should we look at what we\u2019re spending?\u201d<\/p>\n<p>Republican lawmakers <a href=\"https:\/\/www.dailywire.com\/news\/here-are-the-concessions-house-speaker-kevin-mccarthy-gave-to-republican-holdouts-to-win-their-support\" target=\"_blank\" rel=\"noopener\">struck a deal<\/a> with McCarthy under which the party\u2019s new majority will introduce a budget that refrains from increasing the debt ceiling. Even though the national debt was only $31.5 trillion, it exceeded $31.5 trillion in 2008. <a href=\"https:\/\/www.dailywire.com\/news\/interest-payments-on-the-national-debt-on-pace-to-surpass-military-spending\" target=\"_blank\" rel=\"noopener\">Maintenance costs<\/a> A higher interest rate environment can cause prices to soar. An <a href=\"https:\/\/www.dailywire.com\/news\/government-must-raise-taxes-40-or-cut-spending-30-to-achieve-fiscal-balance-study\" target=\"_blank\" rel=\"noopener\">Analysis<\/a> from economists at the University of Pennsylvania\u2019s Wharton School recently found that a 30% decrease in spending or a 40% increase in taxation would be necessary to handle current spending and future obligations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Speaker Kevin McCarthy (R-CA) said that spending cuts to Social Security and Medicare are \u201coff the table\u201d as lawmakers seek to fund the government while reducing deficits. McCarthy plans to meet with President Joe Biden on Wednesday to discuss possible budget cuts after the debt ceiling, an arbitrary cap on the national debt established &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1823806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[5487,3663,4159,11860,5960,17034,3646,5127,8082],"class_list":["post-1829362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-debt","tag-mccarthy","tag-medicare","tag-negotiations","tag-off","tag-reforming","tag-security","tag-social","tag-table"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1829362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1829362"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1829362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1823806"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1829362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1829362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1829362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}