Posted on 08/07/2023 9:09:21 AM PDT by Oldeconomybuyer
WASHINGTON — Lawmakers must address the trillions of dollars that make up the national debt and deficit without touching Medicare, Medicaid and Social Security, Sen. Chris Coons said Monday.
“I recognize that the art of politics is finding one that both parties can support,” Coons, D-Del., told CNBC’s “Squawk Box.” “But frankly, at the end of the day, Democrats are not going to cut benefits under Social Security.”
Coons said Congress needs “to find a way forward in the middle that balances revenue and spending in a positive way” following Fitch’s decision to downgrade the nation’s long-term debt this month.
(Excerpt) Read more at cnbc.com ...
How about nobody gets over 3,000 a month for social security. That should give us 20 more years.
no Chris - revenue and spending do not need to be balanced -spending needs to be cut drastically. let’s start w/ your salary, eh?
Not Congress! The stinkin’ RAT big spenders and the drunken pirate big spender in the White Surpremacy House.
How about we let people opt out of SS. Let them opt out of putting money into it. And if they have been putting money into it, let them opt to get a lump sum instead of payments.
I expect most people would opt out. That would be a short term pain on taxpayers to fund SS enough to make existing payment commitments, but would keep the ponzi scheme from growing larger from here on.
Every congressman could cut entire salary and be fine. That would hardly make a dent in the budget.
just cut all the intelligence budget. Cut Ukraine. Easy Peasy.
How about if we cut Obamacare? It costs us more than $200 billion per year. Also, transfer back all that money Obama looted from the Medicare Trust Fund to pay for Obamacare. He transferred $716 billion out of the Trust Fund back in 2012. So add interest onto it and transfer it back.
I think some would opt out. I bet nobody over 67 would. They’d find out they’d get zero lump sum or owe back pay. That might be a good thing actually.
But, but, that could lead to cutting aid to Ukraine!
Nooooooooo...
Or, how ‘bout we stop giving illegal immigrants all free stuff?
I think even over age 67 there are 3 categories of people who’d chose to opt out of SS for a lump sum (assuming the lump sum is of worth): 1) people with short life expectancy, 2) people who know how to invest, and 3) people who just want to spend money now and have fun with no worry about tomorrow.
means test
If you make over “X” income you don’t get it.
Grow the Phooookin’ Economy!
If everybody was working, factories were humming, and taxes and regulations were part of a PRODUCTIVE/INVESTMENT/INCENTIVE structure, instead of a Confiscatory Punishment of Leftist Redistribution, we wouldn’t have this problem.
Our PDJT, The GOAT, did it.
It was so good, that Folks that had been out of the workforce, the disabled, recovered addicts, folks that served their time, all were getting chances at getting back productive lives.
But The System, the one that punishes you at every step, couldn’t have it.
MAGA is the hope of a free people.
Cut all agencies within the Federal Government involved in political spying or political attacks by 90%
FBI, Homeland, CIA, EPA, IRS, DOJ.
Eliminate Agencies that have no useful purpose: Homeland Security, EPA (cause more problems than they solve now), Education (this should be state only).
Remove all funding unless specifically approved by all of Congress with 2/3 majority for the State Department give-aways and Political Kickback schemes.
Minimum Tax payment for all Americans of 20% of income or 10K, whichever is higher.
State stipends, depending upon population, collected by state sales taxes, to pay for the interest on the National Debt based upon every individual in State, including Illegals.
Voter Taxes. You must register to vote and prove that you have paid minimum taxes (20% or 10K whichever higher) for you to be eligible to vote in national elections.
These morons in DC equate Social Security benefits paid to those who invested into the system their entire adult working lives, with the giveaway welfare class Medicaid program created for illegals and those who won’t work for a living? It all gets lumped into one big fat talking point basket??
That’s the problem we have—stupid goddamned ignorant idiots elected to public office, by even more stupid ignorant idiot voters.
We really need a balanced budget.
Debt and deficits come from unbalanced budgets; from spending more than is coming in.
Cutting spending is a must, otherwise this problem only gets worse and worse.
Increase taxes Reduce spending.
We tried that during the Clinton Administration. As soon as revenue increased, the cretins in DC found ways to spend even more.
“Oct 12, 2021 · Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977. That translates into $627 billion more than in 2020.”
Now the first two quarters of 2023 show a 20% decrease in tax revenues.
100 billion to Ukraine to support pensions. While these kind of expenditures remain hoe can you even think about cutting SS that people have paid into for decades. I wonder, what age do these morons want to start stealing peoples investment?
Mandatory programs, defense and interest are nearly already 100% of tax revenue.
The rest of the government (discretionary spending) basically runs all on DEBT.
this too while we are, they say, NOT in recession.
Tax revenues are dropping too, recession is coming, and interest rates will remain high on Fed.gov debt over the next year.
Expect an absolutely MASSIVE deficit for next fiscal year.
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