May 04, 2020

Trump Committed to Gutting Social Security

For Immediate Release

Threatens to Veto Any Coronavirus Relief Unless Congress Cuts Social Security’s Dedicated Funding

The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding President Trump’s statement Sunday that he will not agree to any further stimulus measures to combat the coronavirus economic crisis without a payroll tax cut:

“Last night President Trump made his strongest statement yet that he is ready to gut Social Security. He actually sat in front of the Lincoln Memorial and stated, ’We’re not doing anything without a payroll tax cut.’ 

“The statement directly contradicts his words from just three days ago, when on Thursday he stated, ‘We will protect your Social Security,’ during a White House event marking Older Americans Month.

“Mr. President, you can’t have it both ways. Cutting Social Security’s dedicated funding isn’t protecting Social Security; it threatens to starve the system and puts our earned retirement benefits at risk.

“It is outrageous, callous and cruel for President Trump to hold the American people, and seniors in particular,  hostage if Congress doesn’t go along with his plan to gut Social Security for current and future retirees. 

“The president’s plan is also bad economics. Social Security puts more than $800 billion into the economy each year. Destabilizing the system when we are in the middle of an economic downtown is exactly the opposite of what we need to do. In every downturn, Social Security benefits, which are spent when received, are a counterbalance to the decline in the economy.

“The 4.4 million members of the Alliance for Retired Americans call on all members of Congress to refuse to make such a deal. We will fight this attempt to gut Social Security and in November we will remember who was willing to defend and protect our earned benefits.”

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Mr. Fiesta is available for interviews.

Contact: David Blank, dblank@retiredamericans.org