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Retirement Planning > Social Security

Social Security Advocates Warn of Dire Consequences From Trump's Budget Cuts

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Social Security advocacy groups and Democratic lawmakers say President Donald Trump’s just-released 2021 budget plan betrays his promises not to touch Social Security and Medicare.

Trump’s $4.8 trillion budget proposes to slash the Social Security Administration’s budget by $200 million and cut Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) by $63 billion over 10 years.

The cuts would come at a time “when we should be increasing the agency’s budget because 10,000 baby boomers are retiring every day,” said Linda Benesch, communications director for Social Security Works, in a Monday comment to ThinkAdvisor.

Budget cuts to Social Security “lead to field office closures, long hold times on the 800 number, and a huge backlog for disability claims,” Benesch said. “It makes it more difficult for the American people to claim their earned benefits — exactly the opposite of what Trump promised to do.”

Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, said in a Monday statement that the administration “wants to slash $478 billion from Medicare over a decade, which could compromise health care access for millions of seniors.” The budget would also “gut Medicaid with some $1 trillion in cuts over 10 years, undermining older Americans’ access to long-term care.”

Trump’s fiscal 2021 budget also cuts $1 trillion from Medicaid and Affordable Care Act subsidies over 10 years.

Senate Finance Committee ranking member Ron Wyden, D-Ore., said in a Monday statement that Trump “started this con with his 2016 campaign promises not to touch Medicare, Medicaid and Social Security, and now he wants to cut them by more than $1.5 trillion. Bottom line, Medicare, Medicaid and Social Security are on the chopping block as long as Donald Trump is president.”

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