“I told you in 2016 that Social Security and Medicare were getting close to insolvency, and that something needed to be done. Nobody paid any attention to me. Today, the problem is still there, except it’s worse. The two current frontrunners for the nomination have no plan to fix it, or even any apparent desire to do so. That puts the livelihoods of hundreds of millions of Americans at risk. It’s completely irresponsible.
It’s too late to solve the problem by raising the retirement age–many of the Boomers have already retired, and more are retiring every passing day. We can’t cut their payments, because too many of them are completely reliant on them. So what can we do?
There are two things we can do right away. First, we can change the cost of living formula for Social Security to be more realistic. That will save some money. Second, with my carbon tax, and with the elimination of the Biden subsidies, there will be plenty of money in the overall budget to fill in the gaps. That’s exactly what we’ll do until we can come up with a long term bipartisan fix.
That’s my plan. Without one, our retirees are going to be facing a roughly 20 percent cut in income in the foreseeable future. You need to be asking the other people on this stage what they’re planning to do to solve the problem. If you don’t vote for me or hold them accountable, you have only yourself to blame when the cuts come.”