McConnell eyes cuts to Medicare, Social Security to address deficit
S E E D E D C O N T E N T
Nearly a year ago, as the debate over Republican tax breaks for the wealthy was near its end, Senate Majority Leader Mitch McConnell (R-Ky.) insisted that the tax cuts didn’t need to be paid for – because they’d pay for themselves.
“I not only don’t think it will increase the deficit, I think it will be beyond revenue neutral,” McConnell said in December 2017. “In other words, I think it will produce more than enough to fill that gap.”
Whether the GOP leader actually believed his own rhetoric is an open question, but either way, we now know the Kentucky senator’s claim was spectacularly wrong . The Republican tax breaks have, as Democrats and those familiar with arithmetic predicted, sent the nation’s budget deficit soaring.
Take a wild guess what McConnell told Bloomberg News he wants to do about it.
Senate Majority Leader Mitch McConnell on Tuesday blamed rising federal deficits and debt on a bipartisan unwillingness to contain spending on Medicare, Medicaid and Social Security, and said he sees little chance of a major deficit reduction deal while Republicans control Congress and the White House.
“It’s disappointing but it’s not a Republican problem,” McConnell said in an interview with Bloomberg News when asked about the rising deficits and debt. “It’s a bipartisan problem: Unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future.”
He added that he believes “Medicare, Social Security and Medicaid” funding constitutes “the real driver of the debt.”
Before we get into the broader implications of McConnell’s argument, it’s important to understand that we already know it’s the Republicans’ tax breaks for the rich that have made the deficit vastly larger. When McConnell calls the increased federal borrowing “ very disturbing ,” as he did this morning, it’s like watching an arsonist wring his hands over the ashes he created.
The Senate GOP leader helped create this mess; he hasn’t earned the right to complain about it.
But these relevant details are really only part of the larger issue. During the debate over the Republican tax package, Democrats made a fairly obvious prediction: GOP policymakers would blow a giant hole in the budget and then use the shortfall as an excuse to target social-insurance programs like Medicare and Social Security (often referred to as “entitlements”).
That is, of course, exactly what’s happening.
Larry Kudlow, the director of the Trump White House’s National Economic Council, recently said he wants to take aim at “entitlements” as early as “next year.” A few months earlier, House Speaker Paul Ryan (R-Wis.) said he wants to see policymakers bring the budget closer to balance by cutting “entitlements.” Rep. Steve Stivers (R-Ohio), who currently chairs the National Republican Congressional Committee, made the same argument in August.
And now Senate Majority Leader Mitch McConnell is making the identical pitch.
The election season has ushered in a head-spinning debate over which party truly supports pillars of modern American life such as Medicare and Social Security. Donald Trump has repeatedly said , reality be damned, voters should look to Republicans as the champions of these programs.
“We’re saving Social Security; the Democrats will destroy Social Security,” the president inexplicably insisted last month. “We’re saving Medicare; the Democrats want to destroy Medicare.”
But looking past Trump’s bizarre nonsense, leading Republican officials – from the White House, the Senate, and the U.S. House – keep admitting that they’re eager to cut programs like Medicare and Social Security. Maybe the public should believe them.
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Democratic candidates should hammer the GOP over this.
The prick said the deficit is not a republican problem, it's a bi-partisan problem. BULLSHIT.
No, it is a left wing problem, that has caused the bulk of the deficits over time, with all the entitlement programs that are going broke.
Nope, you are incorrect.
Nope, according to Republican Dick Cheney....deficits don't matter.
SS and Medicare are entitlements?????
Then why the hell am I paying all that money in FICA taxes??????
Get rid of CORPORATE welfare....leave SS and Medicare alone....
Democrats must be scared.
McConnell's statement that nothing will done to entitlements without Democratic buy in gets turned into "republicans will slash entitlements" for the less literate Democrats who are easily scared. .
Sad. Yet predictable.
Next step will the advertisements of Republicans literally killing seniors.
The playbook never changes.
The tax cut has been a complete failure as part of the Republicans election message. They barely mention it in any of their ads. Hence the panic messaging about " leftist mobs".
The people saw through the tax cut and saw it benefited the rich.
Gotta love how they all said revenue would drastically increase, when the numbers tell a different story.
Trickle down Reaganomics has never worked and never will for the middle class.
Tax cuts never pay for themselves. Reagan proved this and so did Dubya. Trump has blown up the budget with his tax cuts for billionaires and now he wants to cut Social Security and Medicare/Medicaid to pay for that handout to the rich. I hope that the poor people, older people and the disabled remember this admission by McConnell when they go to the polls in a few weeks.
How quickly the left forget.
The Bush tax cuts for the poor were kept. The Trump tax cuts are on top of those. I will state the same thing I stated about the Bush tax cuts. "If they are bad for the rich, then they are bad for everyone, and should be done away with." The Dems will never allow that to happen. Let the race for the bottom speed up. The politicians in Washington don't care about taxes. They game the system to enrich themselves as much as needed.
As for message. The Republicans are concentrating on the improved economy, stock market, pay going up (too slowly- but far faster than under Obama), and not starting any new wars. (Would love to say he hasn't expanded any; but Trump fucked up in Syria by sending in ground troops).
All the Dems have is they hate Trump. That is their entire platform. End stop.
you are not making any sense
Not for me it isn't
Good for you (no, I am not kidding). You are the exception to the rule. There is always one.
Our office (logistics for OTR and rail shipments) is busier now than before the recession hit. Perhaps too busy.
I know the left likes to credit Obama for the current economy; but it is funny that the economy took off as soon as Obama left office. If his policies were that good the economy wouldn't have waited to take off.
It didn't start that way, but he is a person of such bad character and is doing so much damage to the value system of this country, damage that won't easily be mitigated. I don't hate him, I hate what he is doing, and that is probably how most feel. The actual hate is coming from the republican side, because they care more about 'winning' or pissing off 'libs' than the actual problem and solution. They hate Obama so much they are actually trying to remove all evidence he was president. So spare us. If one is inclined to attribute something negative to the left, it's pretty likely its actually ones own trait.
Sure it did. Libs have been attacking Trump for no other reason than "He lies", or "He's not Hillary" since the day he came down the escalator, and have not backed off since.
Indeed. Tax cuts (while nice) is just a short term means to appease voters and boost a politician's popularity.
You just don't want to admit he is right.
No, I really do hate him. I'm not afraid to admit it
LOL x 1 mil.
You think there is something wrong with "attacking" the president for lying? My gawd.
Just FYI
Trump is a policy ignoramus
Trump is a pathological liar
Trump is a criminal
Trump leads a "cult" based on appealing to what is worst about America
Those are more than enough reasons to "hate" him.
I love that about you! You win!
I've worked hard to not use the word hate because it implies so much negative energy going out on my end, but I have to admit a very very strong dislike of him. His character is despicable, loathsome, abhorrent, disgusting, hateful..... seems like the hate is emanating from him and we merely hold up the mirror.
Yes! That's exactly it!
What are you???? 12???
All you, and those like you, have is wah, wah, wah he lies. I know you have been asked this before, and like every other time you are challenged, you slink away...what lie that Trump has allegedly said has affected your life negatively? You can't answer it because there is none.
You say Trump is a criminal. Prove it. Nobody else has been able to. Correctly labeling "crooked Hillary" does not make you a criminal.
You say he is a policy ignoramus. That has to be the dumbest post ever made on here. To date, Trump has reduced unemployment to well under 4 percent, there are more jobs available than people looking, 4 million people have come off welfare (That Obama put on) since inauguration.
In addition, Trump's immigration policies are designed to make this country safer. Too bad liberals and democrats don't want the same. Economic growth hit 4.2 percent and is still going strong, unemployment claims are at their lowest in half a century, unemployment across all minority groups are at all time lows, gave us (maybe not most liberals, one has to be employed) the largest tax cuts in American history. I've noticed it, as has many millions of other Americans.
There are many more, but no matter what anyone tells you, the go to line for JR is "HE LIES". Some people, sadly, know nothing else.
[delete]
He's president. That effects everyone's life negatively.
Let me ask you a question. Did Obama reduce unemployment? Did Obama make money for people who own stock?
Obama put people on welfare because unemployment was at something like 13%.
People who really truly believe in Trump are the saddest sacks there are.
How do I know he's a criminal ? Because it's been reported by dozens of reputable investigative journalists. The NYT had a 14,000 word article which directly and explicitly accused Trump of committing a crime, tax fraud. They have thousands of Trump's business documents to back up their charges.
Why am I talking to someone who never knows what they are talking about.
NT is seeing aggressive ignorance shot out of a cannon.
My retirement fund took a nose dive during the Bush years. It came back and better. It was slow at first, but now it's a lot healthier. It doubled during the Obama years
I am so tired of Trumpsters. There is nothing that I know of in modern American history that compares to their ignorance. Worse is they get in your face with their abysmal ignorance.
I must have missed that 'Democratic buy in' quote. Link please.
Well it is kind of implied in the link for the seed.
There's really no way that the Republicans can make any changes to Medicare, Medicaid and social Security without help from the Democrats, they just don't have the numbers. With that aside, there are some changes that I think should at least be looked at.
Back when Regan slid the age for 100% Social Security payments from 65 to 67, they should have tied the eligibility age for Medicare to that also. If they were to do that now that would help save some money in the system. Secondly I think it's time to look at retirement ages again. When Social Security was first set up the average life span was 64 years old. Now the average life span is 77 (approximately). It may be time to start to slid up the age for drawing full Social Security payments again.
When you say 'x said' it isn't about what's 'implied', it's about actual content.
Which has been the case all along. It used to be called the 'third rail of politics'. Now the GOP seems to think that they can get away with it.
There are SIMPLE changes that would NOT hurt seniors.
First, remove the cap. That alone would bring in the revenue that would protect SSI for many decades.
Secondly, charge the government .01 MORE interest than whatever we pay China [and other countries] for the funds that they 'borrow' from the SSI fund.
In reality, the SSI trust doesn't NEED to 'save money'. The REAL issue is that after decades of 'borrowing' from the trust, the US government does NOT want to pay the trust back when the 'loan' comes due. Instead of using the decades of trust fund 'loans' to pay down debt, better education [jobs], infrastructure[jobs], sustainable energy [jobs] or STEM research [jobs], they used it for tax breaks and BULLSHIT wars.
The US government 'borrowed' OUR money and now they want us to pay the late fees on the loan.
Too bad they didn't take a second mortgage on the White House....we could have an eviction party
First of all, don't conflate Medicare with SSI. It's a BULLSHIT RW talking point.
Secondly, here's the subhead of your linked article:
But the former Social Security Commission says it's 'insignificant'
BTFW, the Trump 2018 budget spends over a TRILLION more than it takes in and you cheer.
Wow, that's a delusional statement.
Obama served 8 years. Did the Dems 'evict' Bush?
It takes wit to be witty.
Well, that was dumb. Obama's term was up. How did we "evict" him?
That's all he's got.
As with most of your 'surmises' you're mistaken.
What's not difficult to understand is that saving money is the WRONG 'solution'. A one line bill, removing the SSI cap would be the RIGHT one.
Are you denying that you are a Trump sycophant? Here is your most recent delusional comment:
Trump promised to reduce the dept. Trump lied.
Trump said that he would 'freeze' the budget. Trump lied.
Trump said he would balance the budget. Trump lied.
Trump said he get rid of the debt 'fairly quickly. Trump's 'budget' ADDED to the debt, Trump lied.
Trump said that bringing back the energy companies [coal and oil] would pay off the national debt. It ADDED to the debt. Trump lied.
BTFW, in this context, you aren't using the concept of 'projecting' correctly.
I don't think that was him. I think it was xxjefferson or whoever.
Rump is not the great promise keeper - 'oathkeeper' more like it.
Obama's 8 years were up, how did you "evict" him????????????
Deficits and debt only matter when the other side is in charge.
His hand picked successor to continue his failed policies, thankfully, does not reside there. Hence, because of that, he, and his policies, have been evicted.
Spin away.
How is that a spin? Nothing but the truth from me.
Wrong about what? You haven't made a cogent point yet.
When the hell did I even imply that the were?
What's so difficult to understand that ADDITION revenue is the solution?
Just like unemployment payments are pegged to contribution [percentage of income] yet there is a CAP on how much you get in unemployment in every state, no matter HOW MUCH you contribute. If you can change the age for qualifying for benefits AND the amount those benefits are, you sure as hell can set a cap for payments. Only those with a 'limited thought process' would think otherwise.
Oh and my bad, that was Xx. Y'all are so sadly interchangeable I get you mixed up.
So do you deny that you are a Trump sycophant or not?
it's clear to any thinking person reading this that I understand the English language.
Cite were I have deflected. Please be specific.
How the fuck does telling you not to conflate Medicare with SSI imply that the Trustees are partisan? Again, specifics please.
So the Feds can set limits too.
Yes but Mitch McConnell [remember, HE'S the one who wants to cut SSI]can do a lot to damage until then.
Sure he is.../s
From the looks of it, you enjoy wallowing in hate of Pelosi, Feinstein and Booker.
I don't 'hate' Trump. He isn't worthy of so strong an emotion from me. I LOATHE his policies, his persona and the fact that he is an embarrassment to our country.
I'd say he's reaching instead of spinning because you can't be evicted if you never resided. right?
Republican circular logic in action.
lol
like using the Bible to prove God's existence
No problem. I'll keep it super secret, hush hush, and on the down low.
I find it fascinating how quickly you disappear when asked to back up the BULLSHIT you post.
Instead of cutting the benefits for millions of poor, elderly Americans who depend on Social Security for a bare existence, who worked and paid into the system for most of their adult lives......why not cut the salaries and benefits for all the Congressmen and women who think it is A-OK for others to live on a bare stipend. Those in Congress, on both sides of the aisle, don't come close to earning the grand salaries and benefits they keep raising for themselves anyway. It is a waste of taxpayers hard earned money for what little return they get for the their money.
I vote that before they are allowed to cut money elsewhere, Congress must first cut their own salaries and benefits to make up for the deficit they create for things that benefit only their own party. They are American Patriots in name only, far more takers than any of the immigrants they point their well manicured fingers at.
Just my own opinion.
My you are quite the optimist.
While I agree with the primus we all know congress cutting anything that benefits them isn't a reality. I'd be shocked if they ever even do anything about campaign finance reform or term limits or their own personal investing in stocks, He who has the Gold makes the rules and they want to make sure they stay in power for as long as possible.
Nah......a realist actually. While I said what I did about Congress reducing their salaries and benefits I know it will never happen. However, if they are not willing to cut their own salaries and benefits in order to help reduce the deficit, then they have no moral right to cut the income of those who actually earned their money that was paid into Social Security, and are rightfully entitled to their scant monthly stipends.
If the average workers of this country chose to work as few days as Congress does, and took the extended vacations Congress takes, and still demanded to be paid for their time away from the job as Congress does, they would be fired.
They like to think they are royalty, and can write their own paychecks at the taxpayers expense, and keep giving themselves raises they don't earn, and then feel they have the right to cut the paychecks of those who have already worked and earned the right to the meager sums they are paid.
IMHO, Congress as a whole is not only a boil on the a$$ of the American people, they are taking taxpayer funds when they do nothing that is truly beneficial for the American people, thinking only of their own party's benefit and don't actually earn what they milk the taxpayers for.
IMHO, Congress needs a two term limit. But, being a realist, I know that Congress will never allow that to happen.
However......I can still hope.
My thoughts.
I agree. I wold love to be hopeful, Unfortunately as you say I an a realist, I see the path we are on and unless it changes I dont see much good ahead politically for us.
they have no moral right
Politicians are a reflection of the people who elect them. IMO: We the people didn't start the division the politicians and media did BUT this is We the peoples county and we allowed and many encouraged them to promote the division of the American people.
When we vote straight party line not knowing or caring who or what half of the people we vote to give power over us to, what the hell do we expect.
IMHO, Congress as a whole is not only a boil on the a$$ of the American people
I fully agree, I think its worse than a boil. I think we the people no longer are in control of the people we have Hired to run the country. The tail now wags the dog.
I'm sorry But I'm not very optimistic about how this ends.
Good Luck America !! And to the republican party , Good luck controlling this mess, you own it now lock, stock and barrel.
My thoughts and Thanks for sharing yours !
Have a wonderful day !
Thank you for a most interesting and enlightening discussion. I truly appreciate your views and agree with you totally.
It really is no longer a country of the people, but, of the political parties that have no real interest in what is best for America or its people, just their own political party and their own pockets. As long as the 'old school' politicians endlessly remain in control of Congress I don't see any chance of a real change in the near future. That is why I feel the need for a two term limit for all politicians regardless of party affiliation.
Electing people based solely on their party affiliation, regardless of their total lack of qualifications for the position they are running for, like the one we now have in the Oval Office, we can never hope to have any real change for the better for our country and its people. The trade war declared by Trump is a perfect example of the serious economic and financial damage can be caused when ego alone is at the root of the decision making. And the eagerness of the party in control to support the "Emperor's New Clothes" aspect of the decisions made only exacerbate the problem and its results. It also shows that those in Congress do not have any loyalty for the American people as a whole, only for their own party loyalty first and foremost.
I can only hope that the next generation will choose to do what is best for America and its people, and not put their loyalty merely for their own political party at the expense of the American people and our country.
My thoughts, and my hope.
Thank you for the kind words, back at you and I agree with your post 100 %
IF we do not have a common enemy make us start cooperating the youth is probably our last hope.
My gut feeling is our 'common enemy' won't be China or Russia. And...it will not be from the outside, but, from within our own country. I only hope that people will recognize it before it is too late to prevent devastating damage to our country and our people.
Just my own opinion.
Not really, That's pretty much my opinion as well.
Sad to say But I think you are correct even sadder is I don’t know how far it could or will go. We have a basically almost unchecked president who believes and is supported in the idea he is a one man wrecking ball of the established American Governmental system.
With his “Good brain” he seemingly overlooks protocol, facts, advice, details and optics in the pursuit of his agenda. He seems to use anything and everything he can including people to get his way and that includes wanting and actually expecting many to be more loyal to him and his agendas than to their own party, their own believes and/or standards, and even maybe the country itself.
I also don’t doubt he gets another 4 years to further ingrain himself and his ways into our government that may last well after he’s gone. Some long term effects may be positive but IMO: many more may be negative.
I also do not see anyone who can stop him at this point, barring himself or possibly Mueller and his findings and then that would probably have to be something really screwy to do with something financially/political trump is or has been involved in. So, I’m not holding my breath. IMO: We’re screwed.
May the American youth of today be smarter and more involved than many of their parents !!
Good Luck America !
Quite sadly my own opinion as well
Personally, I don't see that happening. While his base may still support him in his quest for a second term, I seriously doubt that he can count on a repeat of his being elected by the Electoral College as he was for his 1st term. Bu the time his first term comes to an end he will have proven himself to the majority of the American people that he has no loyalty to them or America.
As in many other of his business endeavors he has cut his own throat, and he sees his Presidency of America as just another business venture in which he sees himself as a great 'Genius', but, eventually goes bankrupt.
While our country will undoubtedly sustain a great deal of collateral damage from his "Genius" ventures during the remaining time of his term, and make an even bigger laughing stock out of America and our people in the face of the world, we have managed to rise above the blinding dust from far worse causes in the history of our country, and I have no doubt that we will do so again.
The Republican politicians will also suffer from its undying loyalty to those who, through their own ignorance and egotism, will do damage to America's economy and financial stability out of their greed and lust for power, and they will take a big hit in the polls for betraying both our people and our country in order to fulfill their desires.
The Democrats are no less greedy and lustful for power, and they too, will suffer in their efforts to fulfill their own agendas that serve only their own party and greed for power. However, if we can get new strong leaders at the top of the boards then we will still have a chance to elect new blood that will be eager to work hard to prove their worth.
As the old saying goes....."Fool me once, shame on you. Fool me twice, shame on me." Not all of the American people are as stupid and gullible as politicians on both sides like to think.
This is my own gut feeling......and I truly appreciate your sharing your own. The term "America First" should be the honest desire of both sides. Just like it is for the majority of the American people. And that does not mean shutting the door of America to the rest of the world, but, to put America and its people first in their loyalty. Because if we don't put our loyalty in America first, we will not be a truly free country much longer.
My views.
Thank you for sharing your views as well Raven.
Unfortunately I'm afraid the politicians and media has already divided many Americans up to the point they themself are like brainwashed into the division. These folks have chosens sides and picked their side exclusively. What was loyalty of country for many americans is seems loyalty to party is now more important, After all they want their way. Some no matter what the cost.
I have some hope for us, but realistically I dont think America will ever be the same as we were before trump. And that's not in a good way.
Also: If the economy s still humming along and trump keeps up his constant running for office, gaining more power and influence thru the election of others he certainly may have the chance he's already working towards of that second term.
I hope not, but I learned long ago myself NOT to underestimate this man. That was Before he took office even.
Thanks again And I hope your assessment is more realistic than mine, for all of our sakes !
Have a good rest of the evening.
This tax cut was a PR stunt gone very badly.
They want the Dem buy in knowing they won't get it and use that as another PR stunt to say the Dems won't help the economy.
The Tariff Tax is the only thing that's going to bail them out.
Still, prices have risen above whatever benefit the consumer got from the tax cuts and the tariffs will make it even worse.
But the tariff tax will come in and the ignorant fools will congratulate Trump for taxing them in to a healthy treasury. All the while still believing they smacked those big, bad, offshore manufacturers and suppliers.
The stock market is quaking, the tax law backfired, retail is about to implode and will after the holidays, unemployment applications have actually risen this month.
US Steel opened one blast furnace and they thought it was a whole plant opening..
It's coming and they're searching for someone else to blame.
Why am I not surprised this article is getting no traction from members aligned with a specific right leaning party........
I give Sean credit for making an argument even though I disagree with his reading of the situation.
The tax cuts are a proverbial drop in the bucket for the long term issues facing our country.
Worst case, the tax cuts will amount to less than a three trillion loss in revenue over a decade.
Annual increases to entitlement spending are about 1.7 trillion.
Entitlements are a huge issue going forward, tax cut or no tax cut.
It's time people put on their big boy pants and try and figure out how to make up a projected 82 Trillion dollar shortfall over the next three decades.
It's not an entitlement when we all pay for that with every check. Raise taxes and lift the cap on SSI/Medicare withholding that is now just shy of $130k.
Tax cuts for the rich do not create jobs because they do not create middle class/working poor demand for products and services made in the US.
At least lift the cap
Well since just corporate tax revenue decreased by 95 billion FY 2018, your math seems flawed.
So much for getting out what you pay in then. Or or you going to increase the payouts along with lifting the cap.
Raise the cap to $1 million in income. If someone is expected to survive and pay into the SSI fund on $50,000, then people living on 500,000 will do just fine.
Why should they be limited what they pay in? Why should the richest get an exemption when they can afford it better than someone who pays into the fund despite working for minimum wage or just above?
Many of the poor get back more than they paid in. SSI is only questionable because politicians have used the trust fund as a way to pay for their reckless spending. Bush tried to privatize it as a gift to Wall Street. The fund would have been wiped out in 2008 crash if that had happened.
If you can't make ends meet because of minimum wage then where do you get the money to invest of we would eliminate Social Security? Your emotional libertarian arguments are laughable.
You are utterly uninformed about this issue though that is no surprise.
Over 22 million are keeps out of poverty because of SSI.
I'm glad you're admitting that it wasn't tax reform but tax cuts for the rich.
I'm not going to refer to SSI or Medicare as entitlements. It's my money that has been deducted from my paychecks since I've been working. I'm happy for the government to return every single penny they've taken from me with interest.
This will have more of an impact on the elderly because they did not work long enough to put enough money into SSI and Medicare to access for the lifespan they're living. In fact, as you suggest, I'm paying for the elderly through my past and current contributions.
I'd like my money back.
My father died at 53, I was 4 years old and the youngest of 4 kids. We were raised on Social Security survivor benefits as are many children with the same circumstance.
Social Security wasn't a bad joke or insolvent until it got raided because it had so much money.
When the facts show up they disappear.
Supply Side Economics has consumed too much fuel and the ( Supply Side ) of it is running low. The last great source of sustenance for the Supply Side Economics experiment is in the well of the economic and social security of the American people.
Are McConnell, Ryan's and the right wing conservative's ultimate dreams about to be fulfilled?
The way I see it, only one chance to stop it, come November. If not, we are screwed.
Still the damage done so far will last a long time.
Perhaps. Except it may also be perhaps the time to re-evaluate the under pinning's of the US Financial System.
SSE must be eliminated with extreme prejudice. I suspect the American political establishment has neither the will or the patriotism to take ( it ) on. The 'great amassed wealth' can be frightening specter.
SSE?
Supply Side Economics. Also coyly and apologetically referred to as 'trickle down.'
Ah, thanks.
Yes and that's not yellow rain trickling down, get your umbrella.
Same old, same old from the gang of corporate thugs that used to be the Republican party. Now, all we need is a 'centrist' to chime in here, to explain how 'both sides are the same'
McConnell eyes cuts to Medicare, Social Security to address deficit
And where else did you suppose their trillion dollar tax cut was coming from?
Perhaps a more rational approach would be to leave the corporate tax cuts in place and remove the rest. I am not going to complain about the twelve dollars or so it would cost me, and the wealthy have nothing to complain about as they are wealthy.
The numbers are in, and Trump's tax cut didn't reduce the deficit – despite his many promises
Federal spending as a share of the economy fell. But revenue fell even more, with corporate tax receipts plummeting 31 percent. The Congressional Budget Office forecasts deficits hitting $981 billion in 2019 and exceeding $1 trillion every year after that.
As predictable as that was, it represents a lightning-fast falsification of a major commitment. It took three years after the Affordable Care Act passed for Americans to learn that in some cases they couldn’t keep their existing health plan as Obama had promised — a pledge Politi-Fact labeled “Lie of the Year” in 2013.
The Trump administration has long since abandoned its pledge that wealthy Americans wouldn’t receive tax cuts; they actually received the largest cuts. Testing other promises requires more time.
As early as 2021, White House economist Kevin Hassett says, effects of the tax cut will bring average families a $4,000-a-year raise. So far, worker pay increases have been largely gobbled up by inflation.
More significantly, Trump promised tax cuts and the rest of his economic program would boost annual economic growth to 4 percent or higher. More cautious advisors pared back that claim and said Trump will create sustained growth of 3 percent or more.
Either benchmark would be a major boost from long-term forecasts of 2 percent growth before Trump took office. After the government reported second-quarter 2018 growth of 4.2 percent, the White House and Republican allies hailed evidence of a promise kept.
Not so fast. Economic forecasters project third-quarter growth falling below 4 percent — and slowing further after that.
Mark Zandi, chief economist of Moody’s Analytics, envisions growth ending up at 2.9 percent for 2018, 2.8 percent for 2019, and just .9 percent for 2020. Over the long run, major forecasters still see the economy on a path of 2 percent growth.
Good I like what I'm seeing here.
If you watch the videos of Trump on the campaign trail and look at comments made by Senators and Congressman regarding Social Security and Medicare, they PROMISED if Trump were elected that they would NOT cut these programs.
Being the lying liars they all are look at the result. They used the tax cuts for their wealthy donors as a payback and are using the fact they gave out the corporate donor welfare to the rich as an excuse to do exactly what they PROMISED they would NOT do.
I look for president trump to unleash a massive infrastructure plan soon right before the election . That plan would basically need Republicans to push It thru and it will offer all kinds of Goodies such as new schools, roads, bridges, and airports. After all pretty much everyone wants new schools, roads, bridges and airports, LOL Hell, Medicaid expansion could even be mentioned the Shinny object that it is. O wait It already is. Duuu
Good Luck America !
I would say "unbelievable" but it is totally believable that Trump and all Republicans campaigned on NOT destroying Medicare and Social Security, check the campaign trail transcripts. They are liars, and anyone who votes for these liars might as well stop going to church, quit waving the American flag, and say goodbye to grandma and grandpa.
I'll take my refund too, please!