Trump's Social Security Plan: 33% Benefits Cuts | Drudge Retort

Tuesday, October 22, 2024

Trump's Social Security Plan: 33% Benefits Cuts

Former President Donald Trump's campaign pledges would hasten the insolvency of the Social Security trust fund and lead to a 33% across-the-board cut to all benefits, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget (CRFB).

Posted by Corky at 10:31 AM | 41 COMMENTS | permalink

More

... Former President Donald Trump's campaign pledges would hasten the insolvency of the Social Security trust fund and lead to a 33% across-the-board cut to all benefits ...

Yeah, .... and?

Such a cut to Social Security is what fmr Pres trump's wealthy donors seem to want.

#1 | Posted by LampLighter at 2024-10-21 06:43 PM

It is funny that these 'experts' predict Trump will cut social security benefits because of a shortfall in tax revenue but don't apply that to any other huge deficit spending.

Let's look back at the Trump term.

When he took office, US national debt was $19.95T and when he left it was $27.75T, an increase of $7.8T. However, the fed had an unprecedented cash balance of $1.6B at this time. If they were not holding this cash, the debt would have only increased by $6.2T. This, despite the pandemic crushing taxes and having to do direct cash assistance.

Now, we have Biden coming in at the tail end of the pandemic with the economy already under an almost full recovery and Biden growing the debt from $27.75B to $35.5B today (how much more it will increase, who knows?). That is an increase of $7.65T in under 4 years of this disaster Biden/Harris administration.

To put this into perspective, that is INCREASED DEFICIT spending amounting to $23,000 over for every man, woman, and child in the US. This is in addition to the $54,000 the US government spent for every man, woman, and child (non-deficit spending) over the last 4 years. So, in the last 4 year, what did you do with $77,000 that the government spent on your behalf? For a family of 4, this is equivalent of a starter home spent on your family in the last 4 years. Do you see that type of benefit?

#2 | Posted by deadman at 2024-10-21 08:34 PM

Posted by: deadman (new) | Serious level

#3 | Posted by Hans at 2024-10-21 08:37 PM

"A cut of that size would mean that the typical monthly benefit check of $1,907 in 2024 would be reduced by $629 per month, leaving recipients with average payments of $1,278."

That would be catastrophic

I know I'm supposed to believe everything Trump says except when he's lying.....LOL.

No chance this happens

#4 | Posted by eberly at 2024-10-21 08:43 PM

Posted by: Hans

#5 | Posted by eberly at 2024-10-21 08:49 PM

from the thread article:

"Together, Trump's plans would add about $2.3 trillion to Social Security's cash deficit between fiscal year 2026 and 2035, the CRFB estimated.

"As a result of these higher cash deficits, Social Security trust fund reserves would be depleted much faster than under current law," the analysis noted.

-

Trump spokesman Leavitt told CBS MoneyWatch that the former president's plans for "unleashing American energy, slashing job-killing regulations, and adopting pro-growth America First tax and trade policies" would put Social Security "on a stronger footing for generations to come."

However, the CRFB said it was skeptical of those plans. "[W]e've shown that increased energy exploration is unlikely to have a meaningful effect on Social Security " even if the gains were deposited into the trust fund," the analysis said.

The group added that the U.S. would require "unrealistically fast economic growth" to close its existing funding gap."

'
It's the math of the economy, stupid.

Orange Cult Leader wants to pile the debt onto taxpayers for Billionaire Tax Cuts while cutting the throats of seniors.

#6 | Posted by Corky at 2024-10-21 09:16 PM

"Orange Cult Leader wants to pile the debt onto taxpayers for Billionaire Tax Cuts while cutting the throats of seniors.
#6 | Posted by Corky"

And yet, Biden has piled on Trillions more in debt than Trump did. You have some explaining to do.

#7 | Posted by deadman at 2024-10-21 09:21 PM

"President Trump approved $8.4 trillion of new ten-year borrowing during his full term in office, or $4.8 trillion excluding the CARES Act and other COVID relief.

President Biden, in his first three years and five months in office, approved $4.3 trillion of new ten-year borrowing, or $2.2 trillion excluding the American Rescue Plan.

President Trump approved $8.8 trillion of gross new borrowing and $443 billion of deficit reduction during his full presidential term.

President Biden has so far approved $6.2 trillion of gross new borrowing and $1.9 trillion of deficit reduction."

DeadPedo is SO easy!

Practically a toe-tapping intellectual ----.

#8 | Posted by Corky at 2024-10-21 09:25 PM

Study Reveals Both Trump And Harris' Plans Add To The National Debt, But Trump's Proposal Will Inflate It By An Extra $4 Trillion

finance.yahoo.com

Again, from the non-partisan source.

#9 | Posted by Corky at 2024-10-21 09:34 PM

"President Biden has so far approved $6.2 trillion of gross new borrowing and $1.9 trillion of deficit reduction."
#8 | Posted by Corky"

National debt under Biden is up $7.65T and we are not yet done with his term. Spin it how you want - more debt will be accumulated under Biden than any prior president.

#10 | Posted by deadman at 2024-10-21 09:49 PM

National debt under Biden is up $7.65T and we are not yet done with his term.

Because the majority of that amount is accrued interest on money borrowed before he entered the White House.

But you knew that before you wrote that sentence, right?

#11 | Posted by tonyroma at 2024-10-21 10:02 PM

DeadPedo is shockingly obvious in the way he lies, um, cherry-picks the data.

Of course, he has no compunction to be interested in the facts.

It's the Lies that matter.

I mean, once one decides a criminal traitor is their political icon, then the truth isn't really a consideration.

It's just so difficult, though, to choose between his utter nonsense and the crfb.

#12 | Posted by Corky at 2024-10-21 10:09 PM

"Because the majority of that amount is accrued interest on money borrowed before he entered the White House.
But you knew that before you wrote that sentence, right?
#11 | Posted by tonyroma"

And Trump and EVERY president before them had the same. So, what is the excuse now? How can Biden add trillions more in debt than Trump despite not really being effected by the pandemic? He had multiple vaccines on the 1st day in office and the economic recovery was in full swing. Why is his deficit THIS YEAR so god awful?

But, more importantly, tell me about Springfield. Did you know about the 911 call before I linked you directly to it?

#13 | Posted by deadman at 2024-10-21 10:15 PM

"way he lies, um, cherry-picks the data. Of course, he has no compunction to be interested in the facts.
#12 | Posted by Corky"

Yeah, cherry picking data like the national debt when they came into office and when they left. Yes, very cherry picked indeed.

#14 | Posted by deadman at 2024-10-21 10:17 PM

I'm afraid that the CRFB has rejected your application for employment as an economics expert.

They do mention an opening in the Secretarial Pool, if you're interested.

#15 | Posted by Corky at 2024-10-21 10:20 PM

"I'm afraid that the CRFB has rejected your application for employment as an economics expert.
#15 | Posted by Corky"

I don't doubt that. The can't have people working there that can do actual math.

#16 | Posted by deadman at 2024-10-21 10:22 PM

-Secretarial Pool,

It's "administrative assistant" and has been for 30 years or more

Jeez....how old are you?

#17 | Posted by eberly at 2024-10-21 10:22 PM

btw

Trump Administration Abuses Thwart US Pandemic Response

The Brennan Center is tracking Trump administration attacks on government science, ethical violations, and other abuses during the Covid-19 pandemic.

www.brennancenter.org

No wonder you are such a groomed Trumper!

When you aren't being stupid, you're lying.

#18 | Posted by Corky at 2024-10-21 10:24 PM

#17 |

If you ever have something to say on topic, it'll be the first time.

But then, you are much better at personal insults... ok, well, that's not true, either.

#19 | Posted by Corky at 2024-10-21 10:26 PM

#17 |

If you ever have something to say on topic, it'll be the first time.

But then, you are much better at personal insults... ok, well, that's not true, either.

#16

lmao! They wouldn't give you the time of day.

#20 | Posted by Corky at 2024-10-21 10:29 PM

Damn...what is it with some here tonight.

Hans has you all trying to post faster and faster.......don't fall for it.

Poor -------......

#21 | Posted by eberly at 2024-10-21 10:32 PM

Here's how Trump handles the Economy, btw...

"Trump US rallies leave behind unpaid dues, again and again

Donald Trump owes US cities for costs associated with putting on a rally including security expenses and police overtime."

www.aljazeera.com

F'er runs Casinos into the ground, and US banks won't touch him; Vlad has financed him for decades... but you clowns want the criminal traitor back in the WH.

Sad.

#22 | Posted by Corky at 2024-10-21 10:39 PM

@#21 ... what is it with some here tonight. ...

Projecting?

Again?

Or, maybe i should say...

Still?

#23 | Posted by LampLighter at 2024-10-21 11:21 PM

Pink Floyd - Biding My Time (1969)
www.youtube.com

Wow, an ancient tune.

Apropos?

You decide.

Lyrics excerpt...

...
Wasting my time
Resting my mind
And I'll never pine
For the sad days and the bad days
When we was workin' from nine to five
...

(fwiw, one of my favorite Pink Floyd tunes...)

#24 | Posted by LampLighter at 2024-10-21 11:25 PM

Relics?

Saucerful of Secrets is much better IMO.

#25 | Posted by BellRinger at 2024-10-21 11:29 PM

Deplorables simply don't care. They WANT to burn down the entire House and everyone in it, so to them Trump is the orange-brown arsonist of choice.

Good luck, America. You'll need it.

#26 | Posted by e1g1 at 2024-10-22 11:41 AM

Another election, another attack by both sides saying the other side is going to destroy SS.

And on and on and on and on.

It wasn't long after W was in his first term when he tried to privatize SS because he said funds would run out by 2039 (I think, or close to it). Anyone remember what the Dem response was? I do. They fought against it because they said SS wouldn't run out until 2048 (again, can't remember the exact years). That was their sole reasoning!!! Since they didn't agree on the date, they would rather just do nothing. I remember this well because it was one of the first times I remember truly feeling I made the right choice to leave the Dem party.

#27 | Posted by humtake at 2024-10-22 12:53 PM

No chance this happens

According to the perjury committing justices on the SCOTUS Roe was settled law during their confirmation hearings.

Never say never.

Deplorables simply don't care. They WANT to burn down the entire House and everyone in it

Exactly. They will drill a hole in the bottom of the boat just to drown the democrats first.

Right now the median balance of retirement accounts for Americans 55-64 is less than $90,000.

25% of seniors right now count on social security for 90% of their retirement income.

41% of workers do not know how much they need to save for retirement.

56% of Americans will save less than $500K for retirement.

This nation is racing down a hill to a catastrophe, if social security and medicare is cut back severely this nation is in big trouble.

Congress should be looking at ways right now to enhance social security instead of looking for ways to give more tax cuts to billionaires.

#28 | Posted by Nixon at 2024-10-22 01:36 PM

It wasn't long after W was in his first term when he tried to privatize SS because he said funds would run out by 2039 (I think, or close to it). Anyone remember what the Dem response was? I do. They fought against it because they said SS wouldn't run out until 2048 (again, can't remember the exact years). That was their sole reasoning!!! Since they didn't agree on the date, they would rather just do nothing. I remember this well because it was one of the first times I remember truly feeling I made the right choice to leave the Dem party.

#27 | Posted by humtake

Your mind must be going.

The Dems argued it was a hand out to Wall Street that would allow Wall Street to gamble with the Social Security fund. How would that have worked out in 2008?

#29 | Posted by Sycophant at 2024-10-22 01:44 PM

"Anyone remember what the Dem response was? I do. They fought against it because..."

...because, as Dubya finally had to admit, his "fix" WOULDN'T HAVE ADDRESSED THE PROBLEM.

FFS, the LAST thing you want to do to a too-small pool of money, is have Wall Street rake billions off the top.

#30 | Posted by Danforth at 2024-10-22 01:57 PM

"(Dems) fought against (SS "reform") because they said SS wouldn't run out until 2048"

Total nonsense.

#31 | Posted by Danforth at 2024-10-22 01:59 PM

Total nonsense.

#31 | POSTED BY DANFORTH

No worries bro!!

Trumpy has a concept of a glimpse of vague incoherent plan that is his stream of silly nonsense that he vomits at us daily that will solve all our problems. And only he can do it!

Before he even takes office. Trust me.

The man in the tv said it so it must be true.

If you are so smart then where have all the geese gone? Huh smart guy?

#32 | Posted by donnerboy at 2024-10-22 03:02 PM

So Kamala and Democrats bring in 20 million illegal unvetted freeloaders that have already cost us many billions with few having any resources besides taking what is ours. This country belongs to all our citizens and not belonging to crooked Democrat politicians.

#33 | Posted by Robson at 2024-10-22 11:59 PM

Robson,

That 20 million number is the high estimate of the total number of people who are currently in this country illegally, not the number that have entered over the past 4 years. That number is in the proximity of 7 million, which is a traitorously absurd number over a such a short period of time. Nevertheless, let's keep it real.

#34 | Posted by BellRinger at 2024-10-23 12:06 AM

That number is in the proximity of 7 million

So about 0.5% per year?

#35 | Posted by REDIAL at 2024-10-23 12:42 AM

It's convenient, politically, for Trumplicans to lie about migrants.
For instance they only discuss who came in, but not who was expelled.
Yes, more came in under Biden, but Biden was also responsible for "expelling five times as many border-crossers than Trump did".
The total number of those that remained in the United States is 3.3 million. That is less than half of the 7.6 million that Trumplicans dishonestly parrot.

Trump also slashed US Refugee admissions (capping them at 15,000). Biden increased that cap to 125,000 (100,000 have been admitted)
Naturalizations have also climbed under Biden - surpassing those under Trump.

Unfortunately one of the biggest issues to solving the immigration issue is immigration courts. Congress could have fixed that, but Trump killed it along with more border agents, and a whole lot more. So here we are with Trumplicans throwing blame for what they did. Just like Trump wanted. A campaign issue to run on, to build hate, to lie about, and to blame and dehumanize "others."

www.washingtonpost.com

#36 | Posted by YAV at 2024-10-23 08:33 AM

The traitor is a horrible business man. He did not do one thing that was good for the USA when he was in office. Covid was a disaster in the way he treated it (at first, a hoax he said). The economy when he came in was rocking. Gas went down due to Covid and when not many were driving. Anyone who paid attention at the time knows this. All he did when in office was enrich himself and his family. He's all about him and he doesn't give one care about anyone but himself.

I watched his actions closely from 2008-present. He's a liar, a crook, a cheat, a fraud, has a history of screwing over the small guy/working man and has filed BK on his business many times. He was caught stealing from his own charity, praised dictators and now wants to be one so he can stay out of jail. He stayed in contact with Putin, who is not an ally of the USA. This guy is a joke of the highest order and it pains me to see how he conned so many who like to hear the garbage he spews. Every other word out of his mouth is a lie based on hate, anger and BS.

Oh and I'm much much better off than I was 4 years ago. 100%, as are most of my friends and family. The reason housing went up so much is due to the low interest rates under the traitor. This led to millions buying and leaving no inventory. So supply and demand pricing took effect. He screwed up the economy and was horrible for the everyday person. I live in a deep red rural area. As of today there are more Harris signs than trump. When Biden ran, there were no Biden signs here. Harris signs are plentiful.

He did nothing for people here when in office, nothing. Some are wising up.

When he loses, and he will by 7+ points nationally (and she wins PA, WI, MI, etc). Trump already lost, months ago. He's done, and when this comes to fruition in 13-14 days he's going to try and rile up his base, who can't think for themselves, to incite violence. There will be some but it will be squashed quickly and trump will be left to face all of his trials and crimes.

He's done, his last hurrah is now. This is not delusion but fact and all will
See this soon . Thank God. He is now the sucker and the loser.

#37 | Posted by NOTGOINGBACK at 2024-10-23 09:54 AM

"Now, we have Biden coming in at the tail end of the pandemic with the economy already under an almost full recovery ... "

Did you snicker under your breath when you wrote this historically inaccurate garbage?

Your attempts to rewrite history are laughable.

Criminally negligent Trumpy drove the economy into a ditch. The day Trump left office, 401,000 people had died from the disease caused by the novel coronavirus, and the economic fallout was far from over. The economy that had 2.7 million fewer jobs than when he started " becoming the first president in modern times to experience a net loss of jobs over his time in office

Biden presided over the country's recovery from the Trumpy Error.

Trumpy was much too busy crying (and who is still crying) about his historic election loss to "sleepy Joe" to be of any help.

#38 | Posted by donnerboy at 2024-10-23 12:00 PM

...which he and the other Republicans will promptly vote
to give the difference to millionaires and billionaires.

"It's still the economy stupid"--James Carville

"It's still Trickle Down B.S. Economics"--Earthmuse

#39 | Posted by earthmuse at 2024-10-23 12:33 PM

Robson,

That 20 million number is the high estimate of the total number of people who are currently in this country illegally, not the number that have entered over the past 4 years. That number is in the proximity of 7 million, which is a traitorously absurd number over a such a short period of time. Nevertheless, let's keep it real.

#34 | Posted by BellRinger at 2024-10-23 12:06 AM | Reply

Bell- Thanks for pointing that out and for your view. It (20 mil) could be high but it could also be low in total. Remember how politicians like GW Bush and Democrats always claimed the number of illegals in our country were the same for years? Dobbs used to comment on it. They've covered up facts and figures for decades so you can be certain the claimed numbers of illegals here were always politicized (ie much higher in reality than claimed). 20 Million might be absurdly low in total which ultimately could put a big burden on Social Security if they legalize them.

I've had a few periods in life when I voted Dem but then I realized their role in politics was always more about scheming to increase Party Political Power for votes and not to ever make America better for all its citizens. I've opposed illegal immigration for many years and have financially supported organizations that factually report, lobby and investigate. Bringing cheap labor into America for the benefit of the Chamber of Commerce or Soros or political parties doesn't make us better. We need to minimize the politics. Under this administration they've never been honest about crime and illegals. (the border is secure). To a much lesser extent it may also be played by the other side too.

The most important factors regarding immigration is to control it and vet individuals and provide incentive and need to assimilate culturally (language, etc) That gets squashed because certain politicians always want us divided.

#40 | Posted by Robson at 2024-10-23 03:59 PM

#40

Silly Robot....

"20 out of 8.2 million voters that were not legalized Americans. Nine of those were from long ago elections and 11 of those were registered but did not vote.

That means in the last election there were zero illegal immigrants in Georgia that actually voted.

This blows Trumps "millions of illegal sliens are voting" completely out of the water."

#41 | Posted by Corky at 2024-10-23 04:04 PM

Drudge Retort Headlines

Gaetz Withdraws (63 comments)

Texas Offers Trump Huge Ranch for Mass Deportation Plan (63 comments)

Gaetz Sent over $10K in Venmo Payments to Women who Testified (33 comments)

Mike Johnson Institutes Transgender Bathroom Ban for U.S. House (30 comments)

1 in 5 Adults Get Their News from Social Media Influencers (28 comments)

Murdoch's News Corp Accused of Undermining Democracy (23 comments)

RFK Jr. Compared Trump to Hitler (22 comments)

Poll: Americans Remain Divided on Key Campaign Promises (19 comments)

Nikki Haley Trashes Trump Picks RFK Jr. and Tulsi Gabbard (19 comments)

Pam Bondi Picked for AG After Gaetz Withdraws (17 comments)