Entitlement reforms and a hike to the debt ceiling are central in talks between President Obama and Speaker John Boehner on a fiscal deal.
Sen. Bob Corker (R-Tenn.) recently said he’d offer legislation to trade billions in entitlement savings for a hike in the debt ceiling.
“Let’s get busy, let’s not wait till the last minute, let’s not do it through closed-door meetings,” Corker said. “For every dollar we raise the debt ceiling, we reduce spending by one dollar.”
“I woke up this morning with almost a eureka moment that if they’re not going to, I’ll get us started,” the Tennessee Republican said on the floor. “What I plan to do over the next couple of days is offer legislation that would reform Medicare and Medicaid by $900 billion … and offer it to how we raise the debt ceiling.”
The lawmaker said he wants to move the legislation through regular order, allowing committee input and amendments. He said his plan would “save this nation from catastrophe” and that solvency is the greatest threat to America right now, and that lawmakers should start working now so that a last-minute deal isn’t pushed through.
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Source: Ramsey Cox | The Hill