VIDEO: Entitlement Reform is Key to Reducing Government Debt
Grover Hermann Budgetary Affairs Fellow Romina Boccia of the Heritage Foundation sat down with Fox Business’ Gerri Willis to discuss the upcoming debt ceiling showdown.
Emergency steps to keep the government from hitting the debt ceiling will run out on Oct. 17, Treasury Secretary Jacob Lew said on Wednesday. Congress must raise the $16.7 trillion debt ceiling or face “catastrophic results,” Lew warned.
But while the White House and congressional Democrats say they won’t negotiate on the debt ceiling, there is room to cut, Boccia says at the 2.52 minute mark.
“You cannot put the budget on a path to balance unless you go after the entitlements. 45% of spending goes to programs like Social Security, Medicare and Medicaid…You need to reform entitlements and do it now.”