by Michael Ginsberg
DailyCaller.com
As members of Congress from across the political spectrum pledge not to reform entitlements, economists warn that doing so is the only effective way to cut down on federal debt.
Congress will need to raise the debt ceiling by July to avoid defaulting on the nation’s debt, and Republicans from across the party insist that they will only vote to do so in exchange for future spending cuts. The federal debt broke $31 trillion in October 2o22, and the Social Security Trust Fund is expected to go insolvent by 2034. Even though entitlements like Social Security, Medicare, and Medicaid made up 46% of the federal budget in 2022, according to the Center on Budget and Policy Priorities, Speaker of the House Kevin McCarthy and President Joe Biden have taken cuts to those programs off the table.