US entitlement programs, specifically Social Security and Medicare, have been political hot buttons for years and president Donald Trump has pledged to keep them. Many projections suggest that as baby boomers retire, such programs will become so costly—mainly to millennials who will have to support them—that they will need to be curtailed.
Speaking on the Fox News show Sunday Morning Futures new Treasury Secretary Steven Mnuchin said that the next US budget will not cut spending on either program.
Mnuchin promised the budget will reflect ongoing efforts to simplify taxes and reduce regulation. He also repeated Trump’s off-cited claim that modifications to the tax code will result in a major tax cut for the middle class, while also making US businesses more competitive globally.
You can watch the full interview in this tweet from Fox News (comments on entitlements start at 6:40):