Former President Donald Trump said he wouldn’t have to reform Social Security if he were to win in 2024.
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Donald Trump Reveals Plans for Social Security
For years, there has been doubt about Social Security’s future due to the substantial expenses linked to the program. The fund has been drawing from reserves when the amount of money it collects is less than what it pays out, and if nothing is done, it is expected to run out in 2033.
Given the program’s popularity, politicians are unlikely to allow the fund to run out, but the insolvency of Social Security has 2024 contenders toying with the “third rail of American politics.”
On Tuesday, Trump attended a Fox News Town hall with Sean Hannity, where he slammed DeSantis and Haley for their want to “play around” with Social Security.
Trump declared, “You don’t have to touch Social Security.” He added, “We have money laying in the ground far greater than anything we can do by hurting senior citizens with their Social Security.”
Trump isn’t the only one to discuss Social Security; there are other candidates who have voiced their opinions.
On November 8, at the third Republican presidential primary debate, Haley spoke in favor of increasing the retirement age for younger individuals, including her own children. She stated that benefits should better reflect life expectancy and that she would maintain them for those near retirement age.
DeSantis supported a failed Republican resolution in 2013 that sought to raise the eligibility age for Social Security and Medicare to 70 years old.
DeSantis told Fox News in July that he would consider modifying Social Security for individuals in their 30s or 40s. But given that American life expectancy is dropping, DeSantis stated in the debate in November that raising the age was illogical.
As per the Organisation of the Petroleum Exporting Countries (OPEC), Saudi Arabia is the top exporter of petroleum, with over $202 billion in oil exports in 2021.
The Public Investment Fund (PIF) of Saudi Arabia was established using oil revenues, and its goal is to diversify the country’s economy by investing in non-oil enterprises and companies.
In 2021, the United States surpassed Saudi Arabia in oil production by roughly 10 million barrels per day, making it the largest oil producer, according to the U.S. Energy Information Agency.
Trump declared, “We have more gas and oil than they do. We can be rich again.” At the beginning of the town hall, Trump promised Hannity that if he wins in 2024, he will allow oil drilling to begin on the first day of his presidency.
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