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(PatriotHQ) Everyone says they don’t want to cut Social Security or Medicare benefits but watch what they do!

According to Republican House Speaker Kevin McCarthy, who has ruled out program cuts and to increase the federal debt ceiling instead.

Get this. Social Security won't be able to pay out promised benefits for roughly a decade, while Medicare won't be able to do so for only five years. Economists' projections indicate both programs will increase the national debt in the coming decades, forcing the next generation of lawmakers to make difficult decisions.

Social Security and Medicare are financed primarily by payroll taxes. They are typically deducted from workers' paychecks, which is why Biden, a Democrat, believes people are merely receiving what they have already contributed to the system.

But the truth be known, Illegal aliens are eligible to receive social security many having only paid in by one paycheck will be guaranteed the minimum monthly check for the rest of their lives! Any wonder Social Security is going broke with all the new millions of illegal aliens flowing into America at or close to retirement age!

According to a report released by the Congressional Budget Office last week, payroll taxes are expected to generate $1.56 trillion this year, but the combined costs of Social Security and Medicare are likely to be $2.16 trillion. In its report, the office warned Social Security benefits may need to be reduced even earlier than previously anticipated, beginning in 2032.

CBO Director Phillip Swagel said Friday at a Bipartisan Policy Center event “benefits today are being paid in full as promised, drawing down on the Social Security trust fund.” But when the government is unable to pay full benefits, he said, "that's a challenge."

Medicare enrollment has more than tripled to approximately 65 million people since its inception in 1966. According to data from the Centers for Medicaid and Medicare Services, more than 10 million new retirees and disabled people joined the program in the past decade.

In 2035, Social Security's trust fund will be unable to pay full benefits due to a shortfall in tax revenues and an increase in the number of beneficiaries, according to a Social Security and Medicare trustees report released last June, though the Congressional Budget Office (CBO) said it could occur sooner. Beginning in 2028, Medicare's trust fund would be unable to pay full benefits.

This results in the unavoidable choice between bolstering the trust funds' finances or reducing beneficiaries' benefits. Continued delays by Congress and the president in addressing this mathematical issue could reduce the number of feasible solutions.

WHAT SOLUTIONS EXIST?

There are essentially four possible combinations

• Raise taxes.
• Change benefits such as the age of eligibility.
• Cut costs.
• Rely more on general revenues to close the gap

Biden took a step last year with his Inflation Reduction Act, which would allow Medicare to negotiate lower prices on a select number of drugs and penalize drug companies for price increases  exceed inflation. In addition, the law makes vaccines free, caps monthly out-of-pocket insulin costs at $35, and, beginning in 2025, limits out-of-pocket drug expenses to $2,000 per year.

The Congressional Budget Office (CBO) estimated the prescription drug provisions of the law would save $237 billion over ten years, prompting some Republican lawmakers to claim it was a spending cut  would eat into pharmaceutical companies' profits and force them to reduce the amount of money they spend developing new treatments. However, the law's objective is to reduce the cost of medications, not to reduce benefits.

Democrats are also attempting to reduce spending on the government-reimbursed private insurance plans comprising the Medicare Advantage program, which is becoming increasingly popular and costly.

Last year, payroll taxes were capped at $147,000, meaning  no one paid taxes in excess of  amount. In 2019, Connecticut Democrat John Larson proposed a bill would reinstate the payroll tax on earnings exceeding $400,000 which is nothing more than a blatant tax increase on higher earners. Given the current increase in inflation most workers will be paid this amount and more just to buy groceries!

Members of the House Republican Study Committee proposed increasing the eligibility age for Social Security and Medicare last year. Currently, the minimum age for receiving full Social Security benefits is 67, an increase of two years since the program's inception nearly 90 years ago. You must be 65 or older to qualify for Medicare.

In addition, the CBO has outlined nearly sixty policy options could save the federal government billions of dollars on Medicare, including increasing monthly premiums for some elderly and disabled individuals.

BOOED! Biden was booed by Republican legislators when he stated  some Republicans want to reduce spending for the programs. Both parties pledged on the spot to avoid any cuts to Social Security and Medicare, prompting impromptu standing ovations from senior citizens.

Why is politics so poor? This is due to the makeup of the electorate. AP VoteCast found nearly six in ten voters in the 2014 midterm elections were over the age of 50. Three out of ten of this group were 65 or older. This indicates a large proportion of voters already benefit from these programs or will soon do so.

In conclusion. Decade after decade Congress has borrowed untold billions from the social security fund and promised to pay these sums back with interest. However, to pay back a fixed debt with inflated dollars has been the secret agenda but inflated dollars make it hard for the tax payor to pay tax and living expenses. Therefore, Congress is going to have to change the game just to make ends meet. In other words, ‘The chickens are coming home to roost”

What do you think?