THAT is NOT gonna happen….
Every admin talks about it….
None will touch it….
If they try?
They will be up against the voters who come out and vote ALL THE TIME….
Social Security is fine for at least 15 years or more….
A good economy with people paying taxes pushes things back even farther …
People just ain’t going to be alarmed about this….
Trump could try the same scare tactics he’s trying for immigration….
But THAT isn’t working either….
And Social Security has a DIRECT feel for those getting older….
Gary Cohn, President Trump’s former National Economic Council director who was one of the architects of Trump’s tax plan, said that the administration’s proposed cuts to Social Security in its 2020 budget proposal amount to “political suicide.”
- “Democrats won’t allow that to happen, and I don’t even know if the Republicans will allow that to happen,” Cohn told Power Up in an interview on Tuesday.
- Moving money out of the Social Security “trust fund,” Cohn said, would be “pretty difficult when you look at the demographics — even in a bunch of red states today. It would be political suicide, just like what Republicans saw happen with repealing preexisting conditions.”
- Trump in March proposed a $26 billion cut to Social Security, including a $10 billion cut to its Social Security Disability Insurance (SSDI) program.
- Remember: Trump on the campaign trail vowed to leave Social Security alone.
But Cohn, the former Goldman Sachs executive once known for being one of the more moderating influences of the Trump administration, wants to save the federal retirement program so it can survive for future generations. After resigning from Trump’s team in March 2018 over a fallout with the president on trade policy, he’s now teaming up with an unlikely partner — former North Dakota Democratic Sen. Heidi Heitkamp — to tackle what’s been long considered the “third rail” in American politics.
This odd couple, both fellows at the Harvard Institute of Politics, is hosting a “Shark Tank” style pitching competition next Monday, in which Harvard undergraduate and graduate students will compete for the opportunity to present their ideas to lawmakers and administration officials in Washington. The goal is to bring fresh ideas to the table to address this intergenerational issue.
According to the annual report from Social Security’s trustees, the program’s “combined trust funds will be depleted in 2034″ if Congress does not take action.
“Create an urgency”: “This is the moment we really need to have that conversation and create an urgency in expanding the dialogue to young people, as opposed to having old actuaries sitting in the room crunching numbers and coming up with ideas that will never sell politically,” Heitkamp explained of the motivations behind the project.
Why now?: Cohn told Power Up that he attempted to raise some “very, very high level solutions” to address Social Security while spearheading tax reform at the White House — but failed to rally any support around tackling the issue….