Trump suggested cutting Social Security and Medicare open thread

Lionfish

Pocket lint
Contributor
100% agreement with Trump's statements. Government waste is rampant and we all know it.
Guano the dupe is just trying to panic voters instead of concentrating on why the democrats hate him.

"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.”
 
Social Security is financed by present workers paychecks. If it falls short, the payout will be trimmed. It cannot fail and it cannot hit the treasury for shortages. SS is run on 1 percent of income. It is very efficient and has not missed a payoff in over 80 years. What program has a better record?
 
I have no problem with Trump running on the initiative of cutting Social Security, Medicare, and Medicaid. If he also wants to include putting Kindergarten studens who misbehave into prison...it would be okay with me.

He is a moron...and so are his continuing supporters.
 
Social Security is financed by present workers paychecks.
This part is true.
If it falls short, the payout will be trimmed.
This part is not. Payout will NOT be trimmed. Instead, payments are made by printing money.
It cannot fail
It can, and is well on it's way to failing.
and it cannot hit the treasury for shortages.
Yes it can, and it does.
SS is run on 1 percent of income.
Blatant lie. Social Security taxes are currently 12.4 percent of income. Source: IRS tax law
It is very efficient
It is horrible. Your ROI is worse than if you invested in commemorative plates. You could've have invested in a general stock fund and done much better. I invest in real estate, gold, and of course my business. It's done remarkably well, far better than any social security payments.
and has not missed a payoff in over 80 years.
Another blatant lie. SSA misses payments fairly often, usually due to some bookkeeping error, sometimes due to theft.
What program has a better record?
I've already listed several. Note they are NOT government.
 
I have no problem with Trump running on the initiative of cutting Social Security, Medicare, and Medicaid. If he also wants to include putting Kindergarten studens who misbehave into prison...it would be okay with me.

He is a moron...and so are his continuing supporters.

You are hallucinating again, Sock.
 
Social Security is financed by present workers paychecks. If it falls short, the payout will be trimmed. It cannot fail and it cannot hit the treasury for shortages. SS is run on 1 percent of income. It is very efficient and has not missed a payoff in over 80 years. What program has a better record?

SS benefits exceed current revenue. They knew this would occur when baby boomers began to retire and raised SS taxes in the 80's. Revenue exceeded benefits and that surplus went into government treasuries per the original SS law. That surplus would be used when benefits for baby boomers exceeded revenue. That is now occurring and payments are not trimmed but some of the surplus in the treasuries is redeemed to cover the shortfall.
 
I have no problem with Trump running on the initiative of cutting Social Security, Medicare, and Medicaid. If he also wants to include putting Kindergarten studens who misbehave into prison...it would be okay with me.

He is a moron...and so are his continuing supporters.
It’s like Trump is getting his talking points from “The Squad” but doesn’t know it.
 
“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.”

Why didn't he do something about the "bad management" during his four years in office?
 
SS benefits exceed current revenue. They knew this would occur when baby boomers began to retire and raised SS taxes in the 80's. Revenue exceeded benefits and that surplus went into government treasuries per the original SS law. That surplus would be used when benefits for baby boomers exceeded revenue. That is now occurring and payments are not trimmed but some of the surplus in the treasuries is redeemed to cover the shortfall.

In fact they do not. The post-war baby boom was going to be a problem, so the SS tax was cranked up and we built a 3 trillion dollar pot to pay them off. As time goes by, the pot gets smaller and the boomers die off. It is solving itself as planned. The boomers dying is solving that problem. What it means is the boomers paid for SS in advance. The pot was planned to expire as the last boomer passed away.
 
In fact they do not. The post-war baby boom was going to be a problem, so the SS tax was cranked up and we built a 3 trillion dollar pot to pay them off. As time goes by, the pot gets smaller and the boomers die off. It is solving itself as planned. The boomers dying is solving that problem. What it means is the boomers paid for SS in advance. The pot was planned to expire as the last boomer passed away.

It only solves itself until about 2035. That is about the time the surplus is depleted and revenues will only cover 70% of benefits according to the SS Trustee reports.

I don't think all the baby boomers will be gone by that time. Boomers will retire between 2010-2030.
A person retiring in 2030 at 67 probably has 15-20 more years.

Although boomers may be dying, the number of people over 65 will grow from 58 million today to 82 million by 2050. Problems with SS have largely been caused by the dropping fertility rate. In about 1950 there were 40 workers for each retiree. Today it is 3-1 and will soon be 2-1. Other causes are increasing life expectancy and all the additional benefits added to SS that were not part of the original law which included the worker only.

We too often hear the problem was that the government dipped in the SS fund but that is not true.
 
It only solves itself until about 2035. That is about the time the surplus is depleted and revenues will only cover 70% of benefits according to the SS Trustee reports.

I don't think all the baby boomers will be gone by that time. Boomers will retire between 2010-2030.
A person retiring in 2030 at 67 probably has 15-20 more years.

Although boomers may be dying, the number of people over 65 will grow from 58 million today to 82 million by 2050.

Problems with SS have largely been caused by the dropping fertility rate. In about 1950 there were 40 workers for each retiree. Today it is 3-1 and will soon be 2-1. Other causes are increasing life expectancy and all the additional benefits added to SS that were not part of the original law which included the worker only.

We too often hear the problem was that the government dipped in the SS fund but that is not true.

A partial solution is legalizing assisted suicide. :thup:

Fertility rate can be compensated for by immigration. Our nation needs immigration reform.
 
The Social Security scam needs to be exposed for what it really is........that of a shining example of the complete incompetence of government to manage the money of the people. I haven't seen a better example of a bad return on investment since the madoff and enron scams.
 
100% agreement with Trump's statements. Government waste is rampant and we all know it.
Guano the dupe is just trying to panic voters instead of concentrating on why the democrats hate him.

"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.”

If you asked Trump for a few specific examples of "a lot you can do" you would get nothing back but empty noise. This was Trump smooching the faithful then having his nothing words repeated back with praise.
 
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If you asked Trump for a few specific examples of "a lot you can do" you would get nothing back but empty noise. This was Trump smooching the faithful then having his nothing words repeated back with praise.

Marti, Trump was president for four years one of which was destroyed by CHINA sending us a virus to disrupt our election process. That is hardly enough time for anybody to get a handle on every part of the government process. Had you assholes allowed him to do his job, it is likely a lot more could have been done to cut waste. His second term should be interesting.
 
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