Social Security is untouchable-Trump
2023.01.20 12:52
Social Security is untouchable-Trump
By Kristina Sobol
Budrigannews.com – In the upcoming debate over the debt ceiling, former President Donald Trump warned fellow Republicans not to “destroy” federal retirement and health benefits. Republicans are attempting to elicit spending cuts from President Joe Biden and his Democratic allies.
In a two-minute social media video, Trump said, “Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security.” This could test his authority among Republicans, who now control the U.S. House of Representatives.
“Do not reduce the benefits that our elderly people earned and paid for throughout their lives. Hold onto Social Security. Don’t throw it away!”
Some House Republicans, who have stated that they should not be excluded from the discussion of the budget, may disagree with Trump’s call to safeguard the two programs that account for the majority of federal spending.
According to the Congressional Budget Office, Medicare, the health insurance program for seniors, accounted for 13% of federal spending in the fiscal year 2021, while Social Security, which provides payments for retirement and disability, accounted for 17%. Due to an aging population, both programs are expected to see significant expansion in the coming years.
When Trump urged hard-line conservative House Republicans earlier this month to follow Representative Kevin McCarthy as he sought to lead the chamber, he was rebuffed. Trump launched his 2024 presidential reelection campaign in November.
The United States Treasury’s borrowing limit of $31.4 trillion was reached one day after Trump’s video was released, necessitating “extraordinary” cash-management measures to pay its bills. To prevent a default, which she predicted could occur by June 5, Treasury Secretary Janet Yellen has requested that Congress immediately raise the cap.
With their newly acquired majority in the House, Republicans want Biden and congressional Democrats to agree to significant spending reductions. In addition, if there is no agreement to raise the borrowing limit, they plan to ask the Treasury to continue making debt and other payments to the government.
Some Republicans have suggested making adjustments to Medicare and Social Security in order to achieve their goal of balancing the federal budget within ten years. However, Republican leaders in the House have called for the popular programs to be kept.
In a statement, Democrats Hakeem Jeffries and Chuck Schumer, the leader of the Senate, stated that they want to “move quickly” to raise the cap.
Trump urged Republicans to focus funding cuts on programs addressing “waste, fraud, and abuse,” as well as immigration, climate change, LGBTQ rights, and foreign aid.
