Congress must find debt solution without cutting Social Security, Medicare, Sen. Coons says
Coons said Congress needs to find a balanced way forward following Fitch's decision to downgrade the nation's long-term debt.
JaneWalter
U.S. Senator Chris Coons (D-DE) speaks to reporters during a break from a Senate Armed Services and Foreign Relations joint briefing on the U.S. policy on Afghanistan, on Capitol Hill in Washington, February 2, 2022.
Al Drago | Reuters
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 that both parties can support," Coons, D-Del., told CNBC's "Squawk Box." "But frankly, at the end of the day, Democrats are not going to cut benefits under Social Security."
Coons said Congress needs "to find a way forward in the middle 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 rating agency dropped U.S. long-term debt to AA+ from its AAA rating due in part to the drawn-out debt ceiling debate earlier this year.
