Drudge Retort: The Other Side of the News
Wednesday, November 29, 2017

Tax reform is only one piece of the overall puzzle needed to revitalize the American economy, Sen. Marco Rubio (R-Fla.) told a group of Washington, D.C., lobbyists and policy analysts this morning at a Politico Playbook Interview sponsored by the Financial Services Institute. The other part? Reduce the deficit and offset the cost of the reform, which the Congressional Budget Office estimates at $1.3 trillion.

"I analyze this very differently than most," Rubio told the crowd. "Many argue that you can't cut taxes because it will drive up the deficit. But we have to do two things. We have to generate economic growth which generates revenue, while reducing spending. That will mean instituting structural changes to Social Security and Medicare for the future," the senator said.

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If lawmakers can act strategically sooner rather than later to come up with some combination of reforms to reduce benefits and raise retirement age, the pain of change and reduced benefits will be greatly mitigated, said the lawmaker who ran for president in 2016 and is once again sounding presidential.

"We don't need to reduce benefits on current retirees or even near-term retirees, but we can make changes for future generations such as mine, and do so in a way that people can prepare for, so the changes will barely be felt," Rubio said.

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"Tax reform is the economic component of this equation," said Rubio, who expressed doubts that there will be a government shutdown. "When more people are working, there are more taxpayers and more revenue, but that alone won't be enough. You are still going to have a debt problem in the absence of spending cuts."

This has been the plan all along. Help the rich get richer through tax cuts, blow u the deficit and then screw the rest of us by cutting SS, Medicare, Medicaid and other "safety net" programs. Welcome to the second coming of the Gilded Age.

MAGA=Make America Gilded Again.

#1 | Posted by Gal_Tuesday at 2017-11-29 10:26 PM | Reply | Newsworthy 3

blow u = blow up

#2 | Posted by Gal_Tuesday at 2017-11-29 10:28 PM | Reply | Newsworthy 1


The anti-Robin Hood.

Take from the poor and give to the rich.

#3 | Posted by LampLighter at 2017-11-29 10:36 PM | Reply | Newsworthy 6

We have to generate economic growth which generates revenue, while reducing spending. That will mean instituting structural changes to Social Security and Medicare for the future," the senator said.

Right. Because cutting the bloated DoD budget certainly isn't an option.

#4 | Posted by jpw at 2017-11-29 10:57 PM | Reply | Newsworthy 5

Sen. Marco Rubio (R-Fla.)

I blame you for this, Florida.

#5 | Posted by ClownShack at 2017-11-29 11:06 PM | Reply | Newsworthy 1

But the pain won't stop with Social Security, Medicare, and Medicaid. In order to pay for trillions in tax cuts, the GOP will have to come after other programs that benefit older Americans, such as Supplemental Security Income (SSI) for poor seniors and people with disabilities, home heating assistance, and funding for the National Institutes of Health (NIH), which would hamper research into Alzheimer's, cancer, and chronic diseases.

thehill.com

#6 | Posted by PunchyPossum at 2017-11-30 12:06 AM | Reply

Make America Goosestep Again

#7 | Posted by bored at 2017-11-30 12:35 AM | Reply

This was the plan all along.

Good job "But her emails" crowd.

#8 | Posted by 726 at 2017-11-30 07:10 AM | Reply | Newsworthy 1

Right. Because cutting the bloated DoD budget certainly isn't an option.

#4 | POSTED BY JPW

2/3 of the budget is SS/Medicare/Medicaid + debt interest. Unfunded liabilities are north of $100 Trillion. Left unchecked these three programs will bankrupt this country. We will become Greece on a grand scale.

#9 | Posted by JeffJ at 2017-11-30 10:23 AM | Reply

Left unchecked these three programs will bankrupt this country. We will become Greece on a grand scale.

#9 | Posted by JeffJ at 2017-11-30 10:23 AMFlag: (Choose)FunnyNewsworthyOffensiveAbusive

Get back to us after the very wealthy start paying their way with taxes.

I'm sick to death of you Republicans extorting cash from people who make less than $50,000.

#10 | Posted by Zed at 2017-11-30 10:26 AM | Reply

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"2/3 of the budget is SS/Medicare/Medicaid + debt interest."

Well Clinton's plan would've paid off the National Debt by now. Thanks, Dubya!

And you can't take SS/Medicare's costs out, without taking its income out of the equation. The real "cost" is only amounts spent over amounts collected.

#11 | Posted by Danforth at 2017-11-30 10:27 AM | Reply

Those kind of comments I don't believe we'll ever see "Little Marco" in the White House.

#12 | Posted by BillJohnson at 2017-11-30 11:15 AM | Reply

www.thebalance.com

Let's see Jeff.

The Federal government will receive $3.654 trillion in revenue. Most of the taxes are paid by you, either through income or payroll taxes:

Income taxes contribute 50 percent.
Social Security, Medicare and other payroll taxes add 33 percent.
Corporate taxes supply 10 percent.

Good thing corporations are getting a huge tax cut, with the overly burdensome tax bill they have.

Interest on the almost $20 trillion debt is already the fastest growing federal expense.

Good thing the rich are getting a huge tax cut, otherwise we'd be adding tons to the debt. Oh wait...

Social Security costs are currently covered 100 percent by payroll taxes and interest on past payroll taxes that has been invested. Until 2010, there was more coming into the Social Security Trust Fund than being paid out. Thanks to interest on investments, the Trust Fund is still running a surplus. But, the Trust Fund's Board estimates that this surplus will be depleted by 2036. Social Security revenue, from payroll taxes and interest earned, will cover only 77 percent of the benefits promised to retirees.

Medicare is already underfunded. Medicare taxes don't pay for all benefits, so this program relies on general tax dollars to pay for a portion of it. Medicaid is 100 percent funded by the general fund.

Sounds like we need to fix medicaid then.

Of course to the GOP, fix means take an ax to it because anything else would be actual governance.

The discretionary budget is $1.244 trillion. More than half goes toward military spending, including the Veterans Affairs and other defense-related departments. The rest must pay for all other domestic programs. The largest are Health and Human Services, Justice, Education and Housing and Urban Development.

There is an emergency fund of $85.3 billion that's not included in the budget process. Most of that ($76.6 nillion) goes to Overseas Contingency Operations to pay for wars.

And of course there's our darling, America's crown jewel of an achievement. No no, not it's scientific infrastructure, or it's once world class education system. Not it's interstate highway system, love of the arts or preservation of wilderness in its national parks system.

It's MILITARY! 'Murica! ---- yeah!

And we all know that in these hard budgetary times of deficits, increasing debt and unfunded liabilities all the trash must go so we can have tax cuts (we, LOL who am I kidding?) and more money thrown down the gaping maw of the DoD.

But hey, the problem is social programs, right? Even the one that floats itself. Because the last time we blew all our money on DoD budgets while handing out tax cuts, it ended working out beautifully, didn't it? I'm sure you remember as it was from 2000-2008, not that long ago, right?

www.washingtonpost.com

BTW your beloved $100 trillion quote is BS. Stop using it.

#13 | Posted by jpw at 2017-11-30 11:27 AM | Reply | Newsworthy 3

Also, I'll add that righties complaining about budgetary issues is like a murderer complaining about the accommodations.

They deserve an eye roll and nothing more.

#14 | Posted by jpw at 2017-11-30 11:28 AM | Reply

"2/3 of the budget is SS/Medicare/Medicaid + debt interest."

How does increasing the deficit by $1.4 trillion, mainly by transferring wealth from the working and middle-classes, help resolve that problem? It doesn't it. It exacerbates it.

#15 | Posted by Gal_Tuesday at 2017-11-30 11:56 AM | Reply

"U.S. military expenditures are roughly the size of the next seven largest military budgets around the world, combined."

Sounds to me like there's room for some cuts there.

www.nationalpriorities.org

#16 | Posted by SomebodyElse at 2017-11-30 12:00 PM | Reply

I knew the second it was signed they would become fiscal conservatives again.

Marco wasn't smart enough to wait..

#17 | Posted by MrSilenceDogood at 2017-11-30 12:32 PM | Reply | Newsworthy 1

"2/3 of the budget is SS/Medicare/Medicaid + debt interest. Unfunded liabilities are north of $100 Trillion. Left unchecked these three programs will bankrupt this country. We will become Greece on a grand scale."

So, raise the cap on earnings subject to SS and Medicare taxes LIKE REAGAN DID! Quit carrying the 1%'s water Jeff unless you are a member of that exclusive club. If so then just tell us and we'll understand why your posts are so hateful to working class Americans. Realize, eliminate the cap on earnings and SS and Medicare are solvent FOREVER!

#18 | Posted by danni at 2017-12-01 12:14 PM | Reply

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