President Trump has long vowed that he would act in the best interest of Americans and improve the economy.
According to The Washington Times, many Americans want to see him cut Social Security spending in order to ease the deficit. But President Trump has remained adamant that he will not touch Social Security or Medicare benefits.
Office of Management and Budget Chief, Mick Mulvaney, claims he met with the President in an effort to find a solution to the growing deficit problem. One solution Mulvaney proposed was to cut into Social Security program spending, thus endangering benefits to those who have already contributed to the system.
According to Mulvaney, President Trump wasn’t having it, “He said, ‘look, I’m still not going to do it, but happy to have a conversation. Same … discussion we had in the spring, I promised people I wouldn’t change Social Security. I’m not going to do it.’”
According to Investopedia, eligibility for Social Security is determined by how many credits a worker obtained in their working years. For every $1,300 one makes while working, they obtain a credit — at a maximum of four per year. For example, those born after 1929 would need to work a minimum of 10 years full time in order to attain 40 credits and qualify for full Social Security benefits.
The financing for Social Security comes from the workers themselves. Every person, as of 2017, pays 6.2 percent of their salaries to Social Security; their employers also pay 6.2 percent in payroll tax. Those who are self-employed need to pay 12.4 percent of their incomes.
Essentially, working Americans have had a portion of their paychecks go to the program for the majority of their working years. Now in retirement, they hope to collect on that investment by receiving benefits as they reach an age when working is less and less feasible. The highlight of the program is this: only those who have worked can receive benefits.
It’s therefore understandable that President Trump would refuse to deny these hard-working Americans their due benefits, and refuse to accept a cut to benefits, as demanded by some on Capitol Hill.
It’s also frustrating that some politicians want to cut programs like Social Security that benefit average Americans’ lives in order to solve their deficit problem. It is even more frustrating in light of their refusal to go after discretionary budgets they are responsible for.
When President Trump took office, his administration proposed $54 billion in cuts to discretionary spending. Specifically targeted were programs related to the environment, education, federal law enforcement, etc. Instead of finding ways to trim the fat from the budgets or to seek compromise to achieve the $54 billion cut, Congress only agreed to $4 billion in budget cuts.
Though Mulvaney has been one of the more agreeable members of President Trump’s cabinet when it comes to budget cuts, he still believes programs like Social Security are the main source of the nation’s debt. Yet programs like Social Security exist because hard-working Americans fund it and only hard working Americans can benefit from it.
President Trump says he will not touch Social Security or Medicare. Do you believe him?
Admittedly, there might be some waste within Social Security, such as administration costs, fraud or the like. It’s also more than likely other programs like food stamps see elevated instances of fraud and misuse that create needless expense. Yet it’s frustrating that President Trump and his administration found a way to cut $54 billion only to have Congress only agree to about 7 percent of those cuts. Instead, they choose to target average Americans.
Thank goodness President Trump is unwilling to inflict hardship on hardworking Americans seeking to benefit from all those years of assisting economic growth and paying taxes.