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Social Security And Medicare At Risk?

by Market FinancePosted onJanuary 26, 2023January 26, 2023

Here’s what you should know…

Republican Rep. Jim Banks has vowed to the American people that House Republicans are “adamant” about making sure that Social Security and Medicare going to remain untouched during the negotiation process with Democrats over the debt ceiling.

According to Breitbart, Banks’ comments came after President Biden’s Treasury Secretary Janet Yellen told House Speaker Kevin McCarthy that the U.S. government has hit their $31.3 trillion debt ceiling. Yellen warned McCarthy that she would use “extraordinary measures” to prevent the country from defaulting.

Banks explained, “So The debt limit sets up an opportunity for us to have a serious conversation. I hope that Democrats will come to the table. I hope President Biden will come to the table. I hope that Senate Leader Schumer and the Senate Democrats will come to the table with House Republicans and talk about what we can agree on. That’s what a negotiation is all about.”

CBS’ Robert Costas then asked Banks, “Do you want Social Security and Medicare to be on the table as part of these negotiations?”

“No,” Banks immediately responded. “I can speak on behalf of the vast majority of Republicans in the majority: I don’t think that any of us want to touch Social Security, Medicare, Medicaid, programs that seniors and others are relying on today or who will soon rely on those programs.”

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