Former House Speaker Paul Ryan made headlines this week when he appeared on Fox News to discuss his concerns about former President Donald Trump and the future of the Republican Party. Unlike many Republicans who have rallied behind Trump, Ryan made it clear that he believes Trump is “unfit” for office and will not be endorsing him. Instead, Ryan stated that he plans to write in a different Republican candidate who aligns more closely with conservative principles rather than populism.
Ryan, who represented Wisconsin in Congress and has since embarked on a career on Wall Street, expressed his worries about the national debt during the interview. He pointed out that both major-party candidates, President Joe Biden and Trump, have pledged not to address the growing debt crisis. With the US national debt exceeding $34 trillion, Ryan emphasized the importance of taking action now to avoid a future financial crisis.
The former House Speaker highlighted the unsustainable path that the US is on, particularly in regards to programs like Social Security and Medicare. He warned that if Congress does not act soon, current seniors could face benefit cuts when the trust funds that support these programs run dry.
Ryan proposed the idea of setting up a commission to address the solvency of entitlement programs and force a vote in Congress. He cited previous examples of similar commissions, such as the one led by former Federal Reserve Chairman Alan Greenspan in 1983. Despite his history of advocating for bold changes to address the debt crisis, Ryan acknowledged the political challenges of implementing such reforms.
As the debate continues over how to address the national debt, Ryan’s comments serve as a reminder of the looming financial challenges facing the country and the importance of taking action now to prevent a future crisis.
