Trump floats 'cutting' retirement spending, drawing quick pushback from Biden
Trump floats 'cutting' retirement spending, drawing quick pushback from Biden
The Republican nominee-in-waiting said that “there’s a lot you can do in terms of cutting” when pressed on CNBC about the solvency of Social Security, Medicare and Medicaid.
The Republican nominee-in-waiting said that “there’s a lot you can do in terms of cutting” when pressed on CNBC about the solvency of Social Security, Medicare and Medicaid.
Presumptive Republican presidential nominee Donald Trump opened the door Monday to “cutting” spending under Social Security and Medicare, drawing swift pushback from President Joe Biden and elevating a key policy battle in the 2024 election.
Phoning into CNBC's "Squawk Box," Trump was pressed on how he plans to resolve the long-term solvency problems of Social Security, Medicare and Medicaid.
“So first of all, there is a lot you can do in terms of entitlements, in terms of cutting,” Trump responded. “And in terms of, also, the theft and the bad management of entitlements — tremendous bad management of entitlements — there’s tremendous amounts of things and numbers of things you can do.”
US worker: pays into Social Security with every hour of labor
CNBC: how do we rich people claw back these “entitlements”?
That makes me think of the two pro Trump ladies on the Channel 5 video that were complaining about social security being too low. I'm sure their reaction will be "But it won't affect me, only cheaters!"
I used to love Channel 5 and Andrew but haven't been able to bring myself to watch since any of the allegations against him came out.
Has he made any sort of indication that he has learned and changed from that experience or has it just been business as normal since he started making content again?
Happens all the time with patients I see on disability or Medicaid. I had a patient tell me last week about how his social security disability income is tight and we "need Trump back to fix things." Yeah okay, good luck with that buddy.
I've seen plenty of conservatives insist that investments pay back better than SS. Therefore, all retirement should be privatized and invested in the stock market.
I've never really seen why they are wro- 40% market dip OH SHIT OH FUCK OH NO!
And yet the elderly people in this country will still vote for him
And a shitton of 25-45 year olds.
None of my homies. The idiot across the street probably will. But he isn't down with me.
They absolutely will. And then several months in it’ll be, “he isn’t hurting the people he needs to be hurting.”
The whole lot of them failing to learn anything from mistakes.
You know who’s really going to understand retirement? The rich guy who inherited millions from his daddy and famously likes to stiff the working class folks he hires.
If social security is cut, can I get all the money I put into it back? Because I'd have a sizeable retirement rather than losing all that money to the ether.
Fucking stupid.
Best we can do is a tax break to corporations.
Your money is already gone. It's one giant Ponzi Scheme. They take the money from you to pay all the old fucks currently living off of Social Security.
If you want to have any money - you have to hope that in 20 years everyone else puts in enough to cover you.
It's not a Ponzi scheme because withdrawals and deposits are scheduled and mandatory. You don't get into a situation where investors lose faith and ask for money that you don't have because that's not allowed. You get your money when you reach the requisite age. You also don't get into a situation where you run out of investors because it's a mandatory payroll tax.
Essentially the only issue facing social security is the fact that since 1974, wage growth has become decoupled from productivity gains, meaning the payroll tax that funds social security captures a smaller proportion of business revenue over time - because businesses spend less of their revenue on payroll than they used to.
Social security doomerism of the type on display here is a tacit acceptance of conservative propaganda on the subject. The government is fully capable of indefinitely maintaining a pension fund, we just have to stop accepting the lie that it isn't.
Ponzi scheme or adequately funded resource for no longer employable non-rich people? The difference is in the management and contributions, both of which need to increase up here.
Your money is already gone.
We literally print the money. It isn't gone. There is always more money in the banana stand.
We have an entire province in Canada who thinks the same.
They also think they get way more than their share because they're soooo much more important -- and it's not the region where Toronto is!
If social security is cut, can I get all the money I put into it back?
The social security cut will be coupled with a tax cut. And you'll be told to invest the difference in the stock market
Old Dead Ass Boomer:
"This won't affect me?"
GOP:
"Nope. But we will absolutely destroy any resemblance to generational wealth for your kids and grand kids."
Old Dead Ass Boomer:
"Just as God intended. Thanks Supply-Side Jesus!"
Thumbs up from Him on High
I really enjoyed those couple of years when the media didn't report on everything he said.
You mean a decade ago?
That was before we knew he was Hitler 2.0.
Telling your core voting block you're gonna take money away from them is a bold strategy.
Don't worry, they haven't exactly been paying attention
"I hope he hurts the right people this time".
If they understood basic English and any economic theory they would be incredibly uninterested anyway because their in a cult.
Fox news will never report this so they'll never know
Remember: He's god to them. He could promise to make food illegal and they'd kill each other for the chance to suck him off for it.
It's the Dan Crenshaw Gambit.
"We need to cut social security for everyone under 55 so we can keep it going for everyone over 55".
And then let them fight.
They are not money making programs. Go ahead and touch Grandpa Joe's Medicare and Social Security. Then you'll see shit hit the fan.
This is the best summary I could come up with:
Presumptive Republican presidential nominee Donald Trump opened the door Monday to “cutting” spending under Social Security and Medicare, drawing swift pushback from President Joe Biden and elevating a key policy battle in the 2024 election.
Phoning into CNBC's "Squawk Box," Trump was pressed on how he plans to resolve the long-term solvency problems of Social Security, Medicare and Medicaid.
A Trump campaign spokesman said he was referring only to “cutting waste and fraud,” but did not provide additional policy details on how he’d go about that or how much can be saved.
“If anyone tries to cut Social Security or Medicare, or raise the retirement age again, I will stop them,” Biden said during a speech Monday in New Hampshire.
“As the President just warned in his State of the Union address, Republican officials plan to cut Medicare and Social Security,” White House spokesman Andrew Bates said, adding that “today, in his budget, President Biden honors his ironclad commitment by firmly opposing benefit cuts to Medicare and Social Security.”
The budget further calls for “protecting and strengthening” Social Security by “asking the highest-income Americans to pay their fair share,” a White House fact sheet said.
The original article contains 623 words, the summary contains 195 words. Saved 69%. I'm a bot and I'm open source!
You keep using that word. I do not think it means what you think it means.
Don't be tremendous.
Any so-called "long-term solvency problems" are only a creation of the elitist right wing.