Trump says he’ll cut funding for Social Security and Medicare to shrink national debt
- Trump stated at a Fox News the town corridor discussion board that he used to be intending to scale back investment for Social Security and Medicare, two of the biggest federal entitlement systems.
- “Oh, we’ll be cutting,” he stated. “We’re also going to have growth like you’ve never seen before.”
- The transfer can be a reversal from Trump’s pledge to go away the ones systems untouched in a 2d time period.
- He in the past expressed a willingness to scale back investment for Social Security and Medicare in a 2d time period.
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President Trump stated at Fox News the town corridor discussion board that he supposed to chop entitlement systems like Social Security and Medicare.
Trump used to be requested all through the interview in regards to the $23 trillion national debt, which has endured surging underneath his watch. He campaigned in 2016 on wiping it out however as an alternative handed rules just like the 2017 tax cuts, which piled extra onto it.
At the city corridor, Fox News host Martha MacCallum informed the president that if “you don’t cut something in entitlements, you will never really deal with the debt,” and Trump right away answered.
“Oh, we’ll be cutting,” he stated to the Scranton, Pennsylvania, target market. “We’re also going to have growth like you’ve never seen before.”
The feedback seems to be a reversal from Trump’s promise to go away the 2 biggest federal govt systems untouched in a 2d time period. In a CNBC interview closing month, Trump expressed a willingness to chop investment for each system.
“At the right time, we will take a look at that. You know, that’s actually the easiest of all things, if you look,” he informed CNBC’s, Joe Kernen.
He rowed again on the one’s remarks an afternoon later and has sought to protect his file on entitlements.
Earlier closing month, Trump tweeted: “We might not be touching your Social Security or Medicare in Fiscal 2021 Budget. Only the Democrats will wreck them by way of destroying our Country’s largest-ever Economy!’
White House Press Secretary Stephanie Grisham defended the president’s Fox News the town corridor feedback on Twitter, announcing that Trump used to be talking “about slicing deficits, NOT entitlements.”
Social Security and Medicare constitute a big chew of presidency spending, they usually constituted nearly 40% of the federal price range in 2018. Social Security by myself makes up just about 1 / 4 of all federal spending.
The Congressional Budget Office has projected that each system will price $30 trillion over the following decade. But any efforts at reform would most probably stumble upon resistance from Democrats pledging to defend Social Security and Medicare from long-run cuts.
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