The Fox News Rundown 38 Trillion Reasons For America To Tighten It's Belt This Year
Jan 1, 2026
Mitch Daniels, former Indiana governor and budget director, delves into the looming fiscal crisis, emphasizing the need for political action against rising national debt. He discusses the impact of term limits on political incentives and argues for necessary reforms in Social Security and Medicare. Daniels also advocates using tariff revenue to tackle the deficit instead of one-time rebates. His insights encourage a long-term view on fiscal responsibility as the 2026 midterms approach.
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Growth Alone Won’t Solve The Debt Crisis
- Growth helps but cannot by itself eliminate a $38+ trillion debt problem.
- Mitch Daniels says spending restraint and program reform must accompany growth.
Social Security Is Not Your Personal Account
- Social Security was never individual savings but a pay-as-you-go system.
- Daniels warns demographic shifts make current benefit levels unsustainable without reform.
Expect Means Testing And Benefit Cuts
- Future Social Security will likely be means-tested and smaller for wealthier beneficiaries.
- Daniels predicts significant changes to preserve support for those who truly depend on it.