Treasury Says Social-Security Cuts Would ‘Decimate’ Retirees
- US Treasury’s Harris issues warning in remarks Tuesday
- Harris’s comments follow calls by Republicans to cut spending
This article is for subscribers only.
A senior US Treasury official warned Tuesday that cuts to Social Security and Medicare would “decimate” the standard of living for American retirees.
“These programs are the cornerstone of the American retirement system, and it is difficult to imagine either program sustaining substantial cuts in resources without dramatically impacting millions of beneficiaries,” Ben Harris, the Treasury’s assistant secretary for Economic Policy, said at an event in Washington.