Should Senate Democrats eliminate Medicare and Social Security?
Medicare and Social Security help millions of people stay afloat. But, the Republicans want a commission to cut Social Security and Medicare as the price for raising the debt ceiling. Meanwhile, Senate Democrats are working on a plan to raise the debt ceiling. They really should be voting to eliminate it altogether.
Why do Republicans want to get rid of Medicare?
“The Republicans have run enormous deficits up to provide tax cuts to big corporations, millionaires and billionaires,” he said. “Now that we have this deficit problem that we caused with our tax bill, they turn around and they say they got to get rid of Medicare, Medicaid and Social Security.”
What would happen to Medicare and Medicaid if Congress reversed Obamacare?
Congress would have to renew the laws it wants to keep. As the New York Times reported: "Taken literally, that would leave the fate of Medicare, Medicaid and Social Security to the whims of a Congress that rarely passes anything so expansive."
Did Rick Scott call for Medicare and Medicaid to be 'phased out'?
As the New York Times reported: "Taken literally, that would leave the fate of Medicare, Medicaid and Social Security to the whims of a Congress that rarely passes anything so expansive." As PolitiFact Wisconsin reported, Scott’s statement was generic and did not directly call for the phasing out of either program.
Who is the senator that threatens our social safety net?
Katy Tur and Chuck Todd thrust their heads into the sand as Sen. Mike Braun threatens our entire social safety net.
How to comment on Insticator?
In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.
Do Americans pay into Social Security?
Americans pay into Social Security and Medicare throughout their working lives. They earn these benefits. Alex Lawson, Social Security Works, explains that “Lindsey Graham and his fellow Republicans will stop at nothing to cut the American people’s earned Social Security and Medicare benefits.”
Can Democrats raise the debt ceiling?
Democrats could raise or eliminate the debt ceiling without Republican support, through the budget reconciliation process. To do so, they would need every Democratic Senator supporting the debt ceiling increase or its elimination.
When did the Cares Act expire?
The pandemic-related deficits are mainly temporary. Congress enacted the CARES Act in March 2020, which offered temporary relief mainly to families, unemployed workers and closed business. Most of its provisions expired in the second half of 2020. The newly elected Congress then enacted the American Rescue Plan in March 2021.
What was Donald Trump's signature legislative achievement?
Donald Trump’s signature legislative achievement was the Tac Cuts and Jobs Act of 2017. It showered trillions of dollars on highly profitable corporations and the richest American households that had seen the largest economic gains in the wake of the Great Recession from 2007 to 2009. Moreover, many provisions of this tax legislation are now permanent fixtures of the tax code and many temporary ones, such as tax cuts for high-income earners will likely become permanent, if past supply-side tax cuts are any indication.
Is the program cutting push for a balanced budget wrong?
The program-cutting push for a balanced budget ignores two key aspects of fiscal policy. First, it matters whether fiscal interactions create temporary or permanent deficits and second, it matters whether the spending or tax cuts underlying the deficits resulted in faster growth. On both counts, using the pandemic-related fiscal measures to justify cuts for Social Security, Medicare and Medicaid is wrong.
Does the Cares Act help the economy?
In contrast, the CARES Act offered much needed relief amid the worst unemployment crisis since the Great Depression, while it helped to stem the tide on declining economic growth. And experts predict that ARPA will boost economic growth to its highest rate in decades.
Will the Federal Reserve keep interest rates low?
The Federal Reserve will also likely keep interest rates low for some time. Congress will eventually need to worry about the long-term health of the U.S. government, but that does not mean a balanced budget, especially one that is achieved by cutting only vital programs.
Did the Republican senators push for Medicare and Social Security?
Republican Senators Push Social Security, Medicare And Medicaid Cuts After Supporting Ineffective Tax Cuts. Opinions expressed by Forbes Contributors are their own. The economy is recovering from the depths of the pandemic in large part due to the massive relief packages that Congress passed in 2020 and 2021.
What are the causes of the shortfall in Medicare?
The trustees of Social Security and Medicare say that an aging Baby Boomer population, combined with lower fertility rates amongst younger generations are contributing to the funding shortfall.
When will Medicare become insolvent?
Experts say the cost of Medicare and Social Security will become insolvent within the next two decades. Medicare will become insolvent in 2026, according to the program’s trustees, and trust funds for Social Security will be depleted by 2034.
How much was spent on Social Security in 2018?
In fiscal year 2018, nearly half ($1.95 trillion) of federal spending was directed toward the major entitlement programs: $977 billion was spent on Social Security, $585 billion on Medicare and $389 billion on Medicaid.
Who said cuts to entitlements are needed to tackle the deficit?
Stivers was echoing the sentiments of party leaders like House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, who argue that cuts to entitlements are needed to tackle the deficit. “Frankly, it’s the health care entitlements that are the big drivers of our debt.
Who said the government has spent too much?
Instead of blaming the deficit on tax cuts, White House chief economic adviser Larry Kudlow said in September that the government has “spent too much” and that the White House would like to “slim that down as much as possible.”. “People are quick to blame deficits on tax cuts but I don’t buy that,” Kudlow said.
