One of President Donald Trump’s campaign promises was that he would not in any way change or reduce the level of benefits of either Social Security or Medicare.
But like so many of his other promises, this one is a lie. Trump was not even sworn in when House Speaker Paul Ryan and his Republican henchmen were hard at work on their nefarious plans to cut both programs severely.
Regarding Social Security, the plans are to raise the retirement age by two more years, to reduce the already paltry formula that calculates cost-of-living adjustments and to reduce the level of payments for those with other sources of earnings, i.e. pensions or IRA income. They plan no increases in revenue to support the solvency of the program, only cuts in benefits.
As to Medicare, Ryan and Health and Human Services Secretary Tom Price intend to replace it with a voucher program, which they call premium support. We would then take those vouchers to private insurance companies and attempt to exchange them for health insurance. There is no guarantee that the insurers will accept these vouchers or that the value of these vouchers will keep up with the increasing cost of the person’s policy.