MARK LEVIN (HOST): Social Security. We talk about that a lot here as well as Medicare. We talk about the trustees and what the trustees say. Well, I hate to bring you bad news again. This is via Fox, the trustees of Social Security. Medicare, the Social Security Retirement Fund could run out of money as soon as 2033. By my calculation, that's ten years, Mr. Producer. That's a year earlier than previously projected. The acceleration toward insolvency is largely the result of a 3% downward revision of gross domestic product and labor productivity over the next decade, findings from the Social Security Medicare trustees report show. So this trustee's report just came out.
Now, here's the deal. When the Democrats destroy the economy, they're destroying these entitlements. When you look at the currency and what's happening to the currency, the communist Chinese are now stepping in and the communist who now runs Brazil, he's a communist. Oh, no, no. He's a democratic socialist. He's a communist. He just said that the entire Brazilian economy is now going to be based on the Chinese currency and not America's currency. And he's not the only one. This is something that is extremely worrisome. This is a transition in the real sense of the term from an American – America superpower economic status to an America second-level economic status. And this is going to harm us in ways you can't imagine. This is what's going on. This is what you won't hear on Meet the Press or Face the Nation or ABC This Week. You're not going to hear this stuff. They don't want to talk about it. They're mental midgets. They don't want to get into it. It's just appalling. This is stuff that affects you directly and the mass media don't give a crap. It's all focused on what they want to focus on. The acceleration towards insolvency unless major changes are made before 2034 to shore up the entitlement program. Ready for this? More than 66 million Americans would see a benefit reduction of between 23 and 25%. And I also told you that you're going to see a massive increase in the tax on these entitlements that will exceed 20% on you folks who pay payroll taxes.
Ron DeSantis is being attacked unfortunately by the Trump campaign over this, but Ron DeSantis is right. His idea is an idea we've had for many years, and I brought this up and George Soros' Media Matters got very upset because they oppose Social Security and Medicare. Soros and the group that he funds, Media Matters, want to see Social Security and Medicare collapse.
We know this because of their opposition to any kind of reform. Now, this is serious stuff. It's gonna affect each and every one of you. And Joe Biden starts by attacking Rick Scott who wants to take a look at this stuff. You know, "You want to cut Social Security and Medicare," and then we played for you with Joe Biden sitting on the floor of the Senate, that he literally wanted to cut them, he said a decade or two ago.
Now, this isn't about cutting them. This is about changing certain variables in these programs for future generations.
One of the proposals that was made several years ago, and I think what DeSantis voted for, and I would have voted for it too, was to raise the retirement age to 70, to grandfather in all current beneficiaries and those who will be beneficiaries within the next 10 years, so anybody 55 and older, because it's not gonna exist. It won't be viable. It's not gonna happen if something like that isn't done. I'm waiting for Chuck Todd to explain this, but Chuck Todd is an idiot.
Medicare, meanwhile, faces an even greater financial shortfall in the coming years. And I told you about this, I turn 65 in September and I didn't want to become part of Medicare. Honestly, it's a patriotic thing.
I didn't want to do it. I've been paying into it since I've been 16 years old. I didn't want to be part of it. I already have my private health care and they said you must be part of it. I said, What do you mean I must? You must be part of it. The private health care can be the secondary, the backup, but you must be part of Medicare. I said, I don't have to be. I don't need. No, you must. I have to have a Medicare. I have a Medicare card. I'm in the system. It's the first one to pay. I was willing not even to do it. These are the lame brains and we're dealing with. But the funds reserve will, quote, according to the trustees, become depleted and continue to program income will be sufficient to pay 89% of total scheduled benefits. The report said it could result in an 11% pay reduction to health care providers. Now, you know what happens when that happens. You're going to see doctors leaving the practice. You're going to see others hospitals going under. I mean, between the illegal aliens that don't pay anything in reduced reimbursements. Nobody can survive this. I'll be right back.