Byron Donalds: “If they go insolvent, there'll be a 22% benefit cut across…”

“Federal law says that when they go insolvent, there is an automatic benefit cut because you have to rebalance the programs. Today, the math says that If they go insolvent, there'll be a 22% benefit cut across the board for every senior in the United States. I'm one of the members that says, let's not get to that point. Okay, let's not get that far. Are we going to touch those programs now? No, we're not.” (40:23–40:33)

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