Trump vs. Biden: Where 2024 presidential candidates stand on Social Security, Medicare

Former President Donald Trump and current President Joe Biden have expressed contrasting views on the future of Social Security.

Trump hinted at the possibility of cutting “entitlements,” including Social Security, to balance the government’s budget.

He previously proposed budget cuts to the program and suggested a payroll tax cut during the pandemic, which would reduce its income.

President Biden categorically rejected Trump’s stance.

His proposed budget for 2025 explicitly states “No benefit cuts” and emphasizes the need to make the wealthy contribute more to support the program.

Advocates for Social Security programs believe they are essential for the financial security of seniors.

The program is facing funding challenges, projected to deplete its combined funds by 2034.

To address these challenges, Biden’s budget proposes raising taxes on high-income earners to extend Social Security’s solvency.

He also aims to improve benefits for low-income seniors and people with disabilities, and increase funding for the Social Security Administration to enhance customer service and address overpayment issues.

While Trump has suggested changes to Social Security, he has hesitated to propose benefit cuts that could directly harm seniors.

He has indicated a willingness to consider other measures to reduce government spending.

Meanwhile, Democrats in Congress support tax increases on the wealthy and benefit enhancements for Social Security.

Republicans favor a bipartisan commission to review the program’s solvency.

The debate over Social Security’s future is ongoing, with both Trump and Biden staking out opposing positions.

The fate of the program will ultimately be determined by the outcome of the upcoming election and the actions of the next Congress.