Pence — who has yet to announce a 2024 presidential bid — has previously suggested tweaks for the programs, saying cuts to Medicare and Social Security should be “on the table for the long term.”
As he mulls a 2024 presidential bid, former Vice President Mike Pence on Tuesday called for “common sense and compassionate solutions" to reform entitlement programs and the nation's debt burden, suggesting changes to Social Security and Medicare programs hurtling toward insolvency, particularly for younger generations, without naming specific recommendations.
Forecasters say Social Security won’t be able to pay out its promised benefits in about a dozen years, and Medicare won’t be able to do so in just five years. Economists say both programs will drive the national debt higher in the decades to come, forcing teeth-gritting choices for the next generation of lawmakers.
Pence's ideas are broadly in line with former South Carolina Gov. Nikki Haley, already in the 2024 GOP race, who last week opened the door to potential cuts for younger generations. During a campaign rally in Myrtle Beach, South Carolina, Haley said that, while she wouldn’t touch the benefits of older people who retired with certain guarantees of a financial future, “the rules have changed” for “anyone new coming in this system.
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