Proposed Budgetary Impact on Seniors

NRMLA has compiled a partial list of news articles that summarize the impact that President Trump’s proposed Fiscal Year 2018 budget will have on elderly Americans, including prospective and current HECM borrowers.

Trump’s Budget For Seniors: Bad, But It Could Have Been Worse by contributor Howard Gleckman
The best that can be said about President Trump’s 2018 budget and older adults: It could have been worse. Congress is not going to pass this budget. But it does make it easier for lawmakers to make big cuts in federal spending. Think of it as a frame for the coming spending debate: At one end is holding spending at current levels. At the other are Trump’s major cuts. Congress is likely to end up somewhere in the middle.

Trump’s New Budget Plan Guts Medicaid. Here’s What You Need to Know by Alicia Adamczyk, Time/Money
The Trump Administration’s 2018 budget request includes deep cuts to Medicaid, the insurance program for low income, elderly, and disabled Americans. Medicaid reaches far beyond able-bodied adults out of work, despite the proposal’s rhetoric. The program is the country’s largest funder of long-term care expenses, covering 40 percent of the costs, as well as more than 60% of all nursing home residents. For Baby Boomers nearing or past retirement age, these funds are crucial

Trump Calls for a Massive Cut in Medicaid by David Frank, AARP
AARP “opposes the budget proposed today because it explicitly harms the very people we are counting on the President to protect,” said AARP Executive Vice President Nancy LeaMond. “Today’s budget proposes to cut Social Security benefits, as well as funding for critical health, hunger, housing and transportation assistance to low and middle income seniors. The budget sends a powerful message to older Americans and their families that their health and financial security is at risk.”

How Trump Budget Would Hurt Older Americans by Kathleen Romig, Senior Policy Analyst at the Center on Budget and Policy Priorities
The proposed budget eliminates several programs that provide social and community services for older people. One is the Social Services Block Grant, which helps states meet the specialized needs of their most vulnerable populations, such as helping seniors stay in their homes and preventing elder abuse. Yet another is Medicare’s State Health Insurance Assistance Program, which helps older adults with their Medicare benefits and doctor bills.

Older jobless Americans: Trump’s budget means ‘hardship’ by Laurie Kellman, Associated Press
Nathan Singletary got his job through the half-century-old Senior Community Service Employment Program, a training and placement program underwritten by taxpayers aimed at putting older Americans back into the workforce. President Donald Trump says there are too few participants who find work that’s not paid for by the federal government. This week, he proposed deleting the $434 million program from the federal budget — a strike at a piece of President Lyndon Johnson’s “war on poverty.”