What does Trump's 2020 budget proposal mean for Medicaid and Medicare?
Over the next 10 years, Trump’s 2020 budget proposal aims to spend $1.5 trillion less on Medicaid — instead allocating $1.2 trillion in a block-grant program to states — $25 billion less on Social Security, and $845 billion less on Medicare (some of that is reclassified to a different department).
Does Trump want to defund Social Security and Medicare?
Concerns Mount After President's Executive Order President Donald Trump's Saturday decision to sign an executive order to defer payroll taxes has fueled concerns that he is attempting to defund Social Security and Medicare, with the latest order drawing criticism from conservatives and liberals alike.
How will the government cut Medicare costs?
The Committee for a Responsible Federal Budget, which advocates for fiscal responsibility, estimates that 85 percent of these cuts will come from reductions in provider payments, 5 percent would come from policies around medical malpractice, and 11 percent would come from reducing drug costs through the Medicare Part D program.
What's in President Trump's plan to cut government spending?
The plan would reduce spending by $4.4 trillion equally from discretionary and mandatory programs such as Medicare over the next decade. The plan also includes $2 billion for the border wall, with officials saying the administration is approaching 80% of the money needed to finish the wall.
How long will Trump shrink the federal government?
President Trump is proposing to balance the federal budget within 15 years, “shrink” the federal government and extend food stamp work requirements to Medicaid and housing programs in a $4.8 trillion spending plan being released Monday.
Why did Trump declare a state of emergency?
Trump declared a state of emergency in February 2019 to move money from military construction projects and counternarcotics programs to get more money. The administration has shifted $6.7 billion from those programs and plans to divert another $7.2 billion this year.
What was the tax cut for 2017?
Following the $1.5 trillion tax cut that Republicans passed in 2017, some suggested that they would quickly turn to reduce the cost of Social Security, Medicare and Medicaid. Those ideas gained little traction and federal spending has continued to grow.
How much did the government spend on Social Security?
It also called for spending $26 billion less on Social Security programs, the federal retirement program, including a $10 billion cut to the Social Security Disability Insurance program, which provides benefits to disabled workers. Spending on Social Security, Medicare and Medicaid is expected to cost the federal government more than $30 trillion ...
How much is the federal budget deficit?
The Treasury Department said last week that the federal budget deficit surpassed $1 trillion in 2019. It was the first calendar year since 2012 that the deficit topped that threshold. To help finance deficits, which require the government to sell debt, the Treasury Department plans to begin issuing 20-year bonds.
How much will Social Security cost in 2029?
Spending on Social Security, Medicare and Medicaid is expected to cost the federal government more than $30 trillion through 2029, according to the Congressional Budget Office. Mr. Trump’s willingness to consider such cuts marks a shift from four years ago, when he stood out in a field of deficit-minded Republicans in the 2016 primary race ...
Will Medicare be cut in 2020?
10, 2020. WASHINGTON — President Trump suggested on Wednesday that he would be willing to consider cuts to social safety-net programs like Medicare to reduce the federal deficit if he wins a second term, an apparent shift from his 2016 campaign promise to protect funding for such entitlements.
What are the changes to Medicare?
Two items buried in Trump’s budget call for big changes to Medicare 1 Trump’s budget is essentially a rundown of administration priorities and goals versus a mandate, and any changes to the program would need to make it through Congress. 2 One of the proposals would let Social Security recipients opt out of Medicare Part A, which currently is tricky to do. 3 The other aims to give Medicare recipients the ability to contribute to health savings accounts and to medical savings accounts.
Can I contribute to an HSA if I have Medicare?
However, as mentioned, you can’t contribute to an HSA if you’re on Medicare, even if just Part A.
Fact check: 'Record' job gains still leave the U.S. labor market in worse shape than Great Recession
On the last night of his party’s convention, President Trump bragged about “record” job gains in recent months, but the 9.1 million jobs he touts come with some qualifiers.
Trump usually includes new material in major speeches. Not tonight
President Trump spoke for roughly 70 minutes on Thursday, one of the longest convention speeches in modern history.
Trump speech missing several of his favorite talking points
While President Trump launched attack after attack on Joe Biden, he left out a number of his favorite topics of criticism in his acceptance speech.
Fact check: Trump claims Biden wants to 'close all charter schools.' That's false
"Biden also vowed to oppose school choice and close all charter schools, ripping away the ladder of opportunity for Black and Hispanic children," Trump claimed on Tuesday night.
Fact check: Trump repeats out-of-context Biden comment to mislead on police stance
President Trump, arguing that Americans wouldn't be safe under Joe Biden, repeated a claim Mike Pence made Wednesday, quoting the former vice president as saying, "Yes, absolutely," as a response to whether he'd broadly support cutting funding for law enforcement.
Fact check: Trump boasts of delivering PPE early in pandemic, doesn't mention ongoing shortages
"We shipped hundreds of millions of masks, gloves and gowns to our frontline health care workers.
Trump mentions Kenosha, not Jacob Blake
Midway through his speech Thursday, Donald Trump mentioned Kenosha, Wisconsin — but did not make mention of Jacob Blake, who was shot seven times in the back by the city's police.
What did Pelosi and Schumer say about Trump's executive order?
In a joint statement, Speaker of the House Nancy Pelosi, a California Democrat, and Senate Minority Leader Chuck Schumer, a New York Democrat, warned that Trump's executive order would "endanger seniors' Social Security and Medicare.".
Do Democrats support Medicare expansion?
To the contrary, many Democrats currently support expanding Social Security and Medicare. Addressing the concerns on CNN's State of the Union on Sunday, Trump's economic adviser Larry Kudlow said the president was not trying to defund the programs. "He will protect Social Security and Medicare, as he has pledged to do many, ...
Does Trump have the power to rewrite the payroll tax law?
"President Trump does not have the power to unilaterally rewrite the payroll tax law. Under the Constitution, that power belongs to the American people acting through their members of Congress," Sasse said.
