Seniors will pay for his recklessness
It used to be said that cutting Social Security was politics’
third rail (i.e. you touch it, you die),
a fatal taking of positions.
If that’s still true, you
wouldn’t know it from the emerging attention Social Security cuts is getting.
Indeed, look at Trump’s
handling of Social Security.
You may find real flaws in the armor of a Best-of-All-Time economy cloak that Trump tries to wear.
You may find real flaws in the armor of a Best-of-All-Time economy cloak that Trump tries to wear.
Even as Trump rivals
Bernie Sanders and Joe Biden mix it up over whether Biden did or did not say
something supportive about a Republican plan in 2008 by then-Rep. Paul D. Ryan
for spending reductions, here comes Donald Trump. He promises he is open to
revamping entitlement programs toward December.
Just
in case you didn’t have enough other reasons to want to reconsider your vote
for November, this issue comes packed with dynamite.
End of the year? You mean
just after the first week of November when we are all supposed to troop to the
polls to re-elect Trump?
As usual, Trump just put
the statement out there with no details, with no factual underpinning and with
assertions that tackling entitlement spending is “the easiest of all
things.” For sure, we voters should be aware that Legislative Trump is
definitely putting Medicare and Social Security cuts on the auction block.
Within days, Trump somehow
was trying to turn his statements into a defense of Social Security against
incursions by Democrats. Confused?
Just in case you didn’t
have enough other reasons to want to reconsider your vote for November, this
issue comes packed with dynamite.
Actually, maybe it is good
for Trump to toss this red meat out there early. After all, it is a real issue.
It perfectly captures both the Trump case and the Republican case in the
elections.
Unfunded
Tax Cuts
Let’s review: Trump and a
compliant Republican Congress passed enormous unfunded tax cuts in 2018 that
were promised to help the middle class but that actually has helped only
corporations and the wealthiest. He and they also vastly increased military
spending, even while preaching we should end longtime military commitments.
At the same time, the
general economic strengthening that began years before Trump has continued on
his watch. Unemployment rates have plummeted to all-time lows as wage increases
have lagged. And the country’s deficit is up about 16 percent over Trump’s
first day because no one is paying for the tax cuts and military increases.
Until now.
Now, it appears, Trump is
going to tell seniors and the near-seniors to pay for the
difference through reductions in long-promised benefits.
If we lived in France,
we’d all be donning yellow shirts and shutting down the subways and highways.
More
Seniors Receiving Benefits
For years, we’ve
recognized that declining numbers of working adults and increasing longevity
would stress Social Security funding. Already, Social Security pays benefits to
70 million seniors.
Speaking with CNBC from the World Economic Forum in Davos, Switzerland, Trump said tackling entitlement spending is easy. “At the right time, we will take a look at that. You know, that’s actually the easiest of all things, if you look,” Trump said.
He later added when asked about entitlements: “Well, we’re going — we’re going to look. We also have assets that we’ve never had. I mean, we’ve never had growth like this.”
Of course, this prompted a
White House spokesman to issue a statement to walk back the idea. In the
statement, the president is not pushing benefit cuts but rather eliminating
waste and fraud.
“President Trump is
keeping his commitment to the most vulnerable Americans especially those who
depend on Medicare and Social Security,” the statement said. “His budgets have
proposed more savings to mandatory programs than any President in history,
including lowering drug costs, eliminating waste, fraud, and abuse, and getting
people off welfare and back to work.”
Um. I get Social Security,
as do most people I know, or they are counting on it as they look ahead. I’m not
sure where the fraud is hiding. We spend the monthly benefit on things like
rent, food and medical care.
Already
Cutting
As a 2016 presidential
candidate, Trump promised not to cut Medicare, Medicaid or Social Security, a
position typically more in line with Democrats than other Republicans.
As president, his budget proposals as president have called for slight reductions in Medicare and bigger changes to Medicaid spending.
He is also seeking curbs to Social Security disability programs, but he has not pursued changes to seniors’ Social Security benefits.
As president, his budget proposals as president have called for slight reductions in Medicare and bigger changes to Medicaid spending.
He is also seeking curbs to Social Security disability programs, but he has not pursued changes to seniors’ Social Security benefits.
Trump’s recent remarks
have appeared to dismiss the importance of the budget deficit, which has grown
to about $1 trillion a year under his administration.
The government is projected to spend $950 billion on Social Security benefits for older Americans and $150 billion in Social Security disability payments this year, and another $850 billion on Medicare program, which is primarily health care for seniors. Social Security benefits are funded through payroll taxes.
The government is projected to spend $950 billion on Social Security benefits for older Americans and $150 billion in Social Security disability payments this year, and another $850 billion on Medicare program, which is primarily health care for seniors. Social Security benefits are funded through payroll taxes.
Recent efforts to address
rising costs in Social Security and Medicare have been met with stiff,
bipartisan resistance. With a Democratic House, it is unlikely to see approval
for such proposals, but it may well become a campaign refrain.
Indeed, Trump promised to
cut taxes again in a second term, only worsening all of these issues.
If Trump says it is good,
look again before accepting it.