Bipartisan Push for New Commission to Address Ballooning National Debt, But Past Failures Sow Doubts
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There is bipartisan legislation to create a commission to address the rapidly growing national debt, now over $33 trillion.
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The commission would have members from both parties in the House and Senate, who would develop a debt reduction plan.
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Congress would be required to vote on the plan after the 2024 election in the lame duck session.
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Past bipartisan commissions have failed to agree on and pass debt reduction plans. There is skepticism this time would be different.
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Political leaders like Biden and Trump oppose changes to Social Security, but commission backers say all ideas must be on the table.