Former President Donald Trump, who recently vowed to reduce spending on Social Security and Medicare by targeting waste and fraud, granted clemency to several individuals convicted in major Medicare fraud cases during the closing months of his presidency. These individuals collectively filed nearly $1.6 billion in fraudulent claims through Medicare or Medicaid. Trump's actions have drawn criticism from experts and come in contrast to his recent statements about protecting entitlement programs.
Former President Donald Trump clarified in a new interview that he will "never do anything" to harm Social Security or Medicare after his comments about "cutting" the programs sparked controversy. Both Trump and President Biden's campaigns have been sparring over the issue, with Trump's team claiming his words were taken out of context and Biden using the comments to criticize Trump's stance on entitlement programs. The debate highlights the political significance of entitlements as both candidates gear up for the 2024 election.
Former President Donald Trump suggested he is open to making cuts to Social Security and Medicare, despite previously opposing touching the entitlement programs and attacking his GOP presidential primary rivals over the issue. Trump's comments have sparked controversy, with President Joe Biden responding that he will not allow cuts to these programs. The Biden administration has sought to contrast the president’s support of Social Security and Medicare with Republicans’ proposals to address shortfalls in the programs’ finances. Trump also discussed his views on TikTok and tariffs during the interview.
Former President Donald Trump discussed possible reforms to Social Security, expressing concerns about the management and weakening of entitlements. President Joe Biden has vowed to protect Medicare and Social Security, accusing Republicans of wanting to cut the programs and give more tax cuts to the wealthy. Trump's comments have sparked debate, with some accusing him of wanting to cut Social Security, while others argue that he was referring to cutting waste. Concerns about possible GOP plans for tax breaks resulting in Social Security cuts have also been raised.
Republican presidential candidates have differing views on Social Security and its future. Florida Gov. Ron DeSantis opposes raising the retirement age, citing the financial struggles of seniors and declining life expectancy. Vivek Ramaswamy focuses on reducing spending to keep Social Security solvent. Former South Carolina Gov. Nikki Haley supports raising the retirement age for younger workers and eliminating benefits for the wealthy. Sen. Tim Scott opposes increasing the age limit and emphasizes growing the economy and cutting spending. Former New Jersey Gov. Chris Christie suggests raising the retirement age for younger workers and implementing an income test to determine eligibility.
A 66-year-old veteran from New Hampshire, Brian Landry, is accused of calling in a threat on the life of a sitting US senator, saying he was angry over "important entitlement programs for veterans." Landry is charged with threatening to assault, kidnap or murder a United States official in connection with the official's performance of official duties. He appeared in court Friday and did not enter a plea.
The Social Security and Medicare trust funds are projected to run dry in 2034 and 2031, respectively, according to annual reports released by their trustees. The estimates are one year earlier than projected last year. The programs are on shaky financial ground due to the aging of the American population, fewer workers paying into the program, and increasing healthcare costs. The reports are a warning to Congress to address the programs' fiscal problems, but elected officials are hesitant to suggest changes that could lead to benefit cuts. President Biden's latest budget proposal did not include a plan to stabilize Social Security's finances, but it did call for extending Medicare's solvency by raising taxes on those earning more than $400,000 a year and allowing the program to negotiate drug prices.
Lawmakers in the US are considering changes to entitlement programs, with some suggesting raising the full retirement age as a solution to the Social Security reform debate. The US population is aging and birth rates are declining, meaning younger Americans are supplying less tax revenue to cover older generations’ Social Security benefits. The other option on the table for lawmakers is to funnel more money into Social Security by expanding the payroll tax or increasing the tax rate on employers and employees.
