WASHINGTON — Lawmakers must address the trillions of dollars that make up the national debt and deficit without touching Medicare, Medicaid and Social Security, Sen. Chris Coons said Monday.
“I recognize that the art of politics is finding one which each parties can support,” Coons, D-Del., said of debt reduction goals while on CNBC’s “Squawk Box.” “But frankly, at the top of the day, Democrats are usually not going to chop advantages under Social Security.”
Coons said Congress needs “to search out a way forward in the center that balances revenue and spending in a positive way” following Fitch’s decision to downgrade the nation’s long-term debt this month.
The credit standing agency dropped U.S. long-term debt to AA+ from its AAA rating due partially to the drawn-out debt ceiling debate earlier this yr.
Cutting advantages under Social Security and Medicare are non-starters for Democrats, said Coons, who said lawmakers must discover a option to tame the debt and deficit “that features revenue.”
“Most Republicans I’ve met with or spoken with won’t consider revenue,” he said.
Coons added that he supports raising taxes on the wealthiest Americans to enhance the sustainability of the programs as one possible path forward.