Congress need to make cuts in the trillions, not just billions, to get the country's debt under control, House Speaker John Boehner said in an interview on NBC's Today show.
“We’ve got two big pots of money -- the discretionary part of the budget, and then we have mandatory spending. Those are mainly the big entitlement programs. We know those programs will not exist in the future if we do not make changes,” Boehner told Matt Lauer on Tuesday. “It’s unaffordable for our kids and grandkids. It’s time to look ourselves in the eye and do what we know has to be done.”
Boehner said Republicans would not consider raising the debt ceiling without significant spending cuts included in the package. Boehner’s spending cuts cannot happen without significant cuts to the Medicare and Medicaid programs, which Republicans ruled out last week.
House Republicans proposed transforming Medicare into a voucher system for those younger than 54, where beneficiaries receive subsidies to purchase private insurance plans. GOP members who voted for the measure were heckled by constituents when they went home for spring break.
“We're not talking about billions here. We should be talking about cuts in trillions,” Boehner said Monday night at the Economic Club of New York. “These should be actual cuts, real reforms to these programs, and not broad deficit targets that punt the tough questions to the future.”
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