Skip to comments.Trump suggests he may be open to entitlement cuts in future
Posted on 01/22/2020 7:58:57 PM PST by rintintin
Washington President Donald Trump appeared to suggest in a television interview Wednesday that hes willing to consider entitlement cuts in the future, a move that would mark a tectonic shift from his stance during his 2016 run for the White House.
Trump suggested he was open to a cut in social safety net benefits, such as Medicare and Social Security, in comments during a CNBC interview on the sidelines of the World Economic Forum in Davos, Switzerland.
While Trump has repeatedly talked up strong economic growth, the federal budget deficit has swollen as his administration has pressed for tax cuts and increased government spending.
Asked if entitlement cuts would ever be on his agenda, Trump responded, At some point they will be.
As a candidate for the White House, Trump stood apart from much of the GOP primary field as he vowed to oppose cuts to Social Security and Medicare, while also ensuring every American had health coverage.
In the CNBC interview, Trump called tackling entitlement spending the easiest of all things and suggested higher economic growth would make it easier to reduce spending on the programs.
Well, were going were going to look, Trump said. We also have assets that weve never had. I mean weve never had growth like this.
(Excerpt) Read more at apnews.com ...
“He gave his usual non-specific, non-committal answer “
He knows how to be clear and explicit when it comes to Social Security and Medicare. Four years ago, running for president, he was extremely clear, promising he would not cut them. He was so clear that GOP officials booed him at the South Carolina debate when he made this clear, unequivocal promise.
Today, in contrast, he was “non-specific,” but said “we are going to look at that.” The contrast between four years ago and today - a clearly stated promise versue weasel words, was very troubling to me. And I speak as a Trump supporter from the moment he came down the elevator.
I suggest you read the current annual Trustees report on Medicare and SS. The data clearly show that the SSTF will be exhausted in 2035 and for Medicare in 2026. By law, this will require a reduction in benefits based on revenue collected. I will provide a more fulsome response tomorrow. Going to bed now.
Both are effectively means tested and progressive already.
Start with the obammy disability freeloader and illegals.
If he did say this it is good for him he cant run again. It will never see the light of day in one remaining term.
If Social Security and Medicare are the important things to you, this probably isn’t an appropriate website to express your concern. Find some leftist boomer site (anyone younger will likely know these programs are 100% guaranteed to be bankrupt before they can benefit) and try your luck there.
Nice. Lame Duck my ass!
Wars are profitable for the taxpayer.
You want us to lose money .. why?
Yeah! bad things pay well.
IDK. Just don’t be so simplistic.
“If Social Security and Medicare are the important things to you, this probably isnt an appropriate website to express your concern. Find some leftist boomer site “
I guess you were booing Trump when he said no cuts in Social Security and Medicare. Are you Paul Ryan?
“The data clearly show that the SSTF will be exhausted in 2035 and for Medicare in 2026.”
Paul Ryan Republicans have been lying, saying Social Security contributes to the deficit NOW.
You can go back to their brand of republicanism, but it’s a loser. Trump won by rejecting it.
The article doesnt support the headline.
But that will be paid by taxpayers. No one else.
Yeah Trump should stay away from this, and he does. Media is trying to lie him in.
“But that will be paid by taxpayers. No one else.”
So will the interest on the Treasury bills in your IRA. Does that mean you’re contributing to the deficit, and the government shouldn’t pay the interest on bonds you bought?
Folks, we should not be getting in an uproar over this.
There are lots of ‘entitlements” which are expensive and not SS or Medicare.
Lets start with welfare and unemployment. With a booming economy there is no reason at all to pay lazy people to not work.
Yes it does!
Money paid is money paid!
Anyway it’s silly to talk of the SS trust fund as if it were a lockbox. That’s so stupid only the media could say it.
The payments went to the General Fund and got spent.
“There are lots of entitlements which are expensive and not SS or Medicare.”
How about start with foreign aid? As long as we can afford to give welfare to other countries, it’s strange to say we can’t afford to help Americans in need.
“The payments went to the General Fund and got spent.”
So did your money when you bought Treasury bonds. The government spent that money to. But it promised to pay you back with interest, just like it promises to pay back the Social Security system with interest. The surplus from Social Security has been used to purchase government bonds, the same way private individuals like you and me buy government bonds. And yes, the money gets spent - with a promise to repay. You’re not saying that your bonds shouldn’t be repaid at the promised interest rate, are you?
Well, it actually does. That "money" in the SS trust fund is not real money -- it is specially issued government bonds. The SS taxes that were paid, were spent on other things, and SS received those special bonds. The interest on those bonds is paid from your current taxes, and when SS runs a deficit and has to cash in those bonds, the money to cash them in again comes right out of our current taxes.
So, SS is contributing to the current deficit NOW.
The politicians who came up with this scheme knew they would be long dead when their chickens came home to roost.
“Well, it actually does. That “money” in the SS trust fund is not real money — it is specially issued government bonds.”
First, it’s only this year that the Social Security system has had to start dipping into the trust fund. But Ryan, Romney and other Bush Republicans have been lying for years that SS has been contributing to the deficit. This is a lie cooked up by Koch Brothers’ effort to gut Social Security.
Second, the idea that government bonds are somehow illegitimate is strange, since most of us have bonds in our portfolios, and expect to be repaid with the promised interest.
The interest on those bonds is paid from your current taxes
Yes, and so is the interest on the bonds that you buy, and the bonds that foreign governments buy to help finance our deficit.
We have forgotten the lessons of history.
The Roman Empire understood how to run foreign relations. When you lost a war to them, they enslaved your people and made you pay tribute. The concept of foreign aid was unknown to them.
LOL! How much can the taxpayers pay?
Not arguing the legalities. Am pointing out the politics.
Despite the law, the young will only take so much punishment from the government without results.
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