GOP’s Thune Sees Debt-Ceiling Hike as Vehicle for Budget Cuts

  • Debt limit debate eyed by GOP for overhauling Social Security
  • Republicans also seeking caps on new federal spending
WATCH: Senator John Thune (R-SD) tells Bloomberg TV’s Joe Mathieu the priorities we could see in the lame duck session.Source: Bloomberg
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Senate Republicans want to leverage the next US debt limit increase to force cuts in projected federal spending and changes to Social Security and other entitlement programs, the party’s No. 2 leader said.

“There’s a set of solutions there that we really need to take on if we’re going to get serious about making these programs sustainable and getting this debt bomb at a manageable level before it’s too late,” Senator John Thune of South Dakota told a panel of Bloomberg editors and reporters in Washington.