New House Speaker Had Proposed Trillions in Cuts to Social Security and Medicare

[axeman462]

So no answer. I get it

In a nutshell, I'm not here to teach economics classes:

the country cannot afford to continue spending the way it does.
The two main drivers of spending on the federal level are healthcare (Medicare and Medicaid) and Social Security.

The country already has a debt-to-GDP ratio of 120%, it is unsustainable. If the debt is not taken into a more controllable level soon (define soon however you want), buyers of our debt (investors, banks, and other countries) will eventually stop. Ths will cause yeilds to spike, bank runs, economic recessions, markets to fall, unemployment to rise etc..
Eventually the buyer of last resort will have to be the Federal Reserve.

This can/will lead to one of two scenarios:

1) Austerity.

2) Inflate our way out.

 

[toolbelt]

healthcare (Medicare and Medicaid) and Social Security.

Hard to believe based on our handling of covid, Then again, Science barely accounts for 1% of spending.

 

[Russ]

One thing that can be done is to continue Social Security tax beyond the $160,200 limit. No brainer.

 

[ValeRosso]

One thing that can be done is to continue Social Security tax beyond the $160,200 limit. No brainer.

Never happen. Then everyone in Congress will need to pay more taxes, they'll never vote for that.

 

[ValeRosso]

In a nutshell, I'm not here to teach economics classes:

the country cannot afford to continue spending the way it does.
The two main drivers of spending on the federal level are healthcare (Medicare and Medicaid) and Social Security.

While I hear you (and good explanation btw), I see hundreds of billions of dollars being spent on everything else under the sun, including recently funding Ukraine and Israel. Not to mention the almost trillion dollar defense budget every single year that is used to buy $30,000 trashcans for airplanes and a trillion dollar faulty jet program. So IMO, if we truly cant afford to fund social security and medicare and medicaid and need trillions of dollars in cuts to them, then we surely cant afford anything else and need to cut everything across the board.

 

[Russ]

Never happen. Then everyone in Congress will need to pay more taxes, they'll never vote for that.

I know they won't and that's BS.

 

[axeman462]

While I hear you (and good explanation btw), I see hundreds of billions of dollars being spent on everything else under the sun, including recently funding Ukraine and Israel. Not to mention the almost trillion dollar defense budget every single year that is used to by $30,000 trashcans for jets and a trillion dollar faulty jet program. So IMO, if we truly cant afford to fund social security and medicare and medicaid and need trillions of dollars in cuts to them, then we surely cant afford anything else and need to cut everything across the board.

no argument here

 

[Millwood]

History answers every one of these questions with 100% accuracy. We just can never seem to pinpoint the exact time.
We never Like what history tells us if it's negative.
Could be we're arrogant, stupid, or apathetic. Really doesn't matter which camp you fall in. History doesn't care .

 

[Lee Vena]

I get emails every week from Senior Security Benefits and this was the top story...you would think people would realize what's possibly ahead............

New House Speaker Had Proposed Trillions in Cuts to Social Security and Medicare

The newly elected Republican speaker of the U.S. House of Representatives has previously proposed trillions of dollars in cuts to Social Security, Medicare, and Medicaid and suggested that slashing the programs should be the top priority of Congress. During his tenure as chair of the Republican Study Committee (RSC) between 2019 and 2021, Rep. Mike Johnson (R-La.) helped craft budget resolutions that called for roughly $2 trillion in Medicare cuts, $3 trillion in Medicaid and Affordable Care Act cuts, and $750 billion in Social Security Cuts, noted Bobby Kogan of the Center for American Progress...


https://truthout.org/articles/new-house-speaker-had-proposed-trillions-in-cuts-to-social-security-and-medicare/?utm_campaign=KHN: Daily Health Policy Report&utm_medium=email&_hsmi=279976944&_hsenc=p2ANqtz-8XwyqXYH7QKkDnXVtsxpkBBiDU5OXHzuDIki2T4S1b0icBOeuu1NzpEfbyEtkPKrj1DS3h0cMIhUMthQqn4ZJ_nH3Jyg&utm_content=279976944&utm_source=hs_email

Let's see if I have this correct. He wants Trillions in cuts to SS and Medicare. Ok, the 2023 budget for Medicare is $846 billion and the 2023 budget for SS was $15 billion, for a total of $861 billion. How can he cut "trillions" on that?

 

[straightnochaser]

Trillions in cuts to social programs and trillions in tax cuts to his donors! Its the American way! Freedom baby!