'Doesn't Seem To Care': Former President Biden Unloads On Howard Lutnick Over Social Security Checks Comments

Forbes Breaking News

In his first public remarks since leaving office, former President Biden slammed Commerce Sec. Howard Lutnick over his comments about Social Security checks.

Transcript

00:00In the 90 years since Franklin Roosevelt created the Social Security system, people have always gotten their Social Security checks.

00:10They've gotten them during wartime, during recessions, during a pandemic, no matter what, they got them.

00:19But now, for the first time ever, that might change.

00:24It would be calamity for millions of families, millions of people.

00:32The current Secretary of Commerce doesn't seem to get it.

00:36Or based on his comments, he doesn't seem to even care.

00:40Many of you saw what he said the other day.

00:43By the way, he's a billionaire. God love him, as my mother would say.

00:48Paying 8.5% in taxes. Anyway.

00:52Billionaires don't want to, he's paying.

00:55But when he talked about the possibility that Social Security checks not going out this month, he shrugged it off.

01:03Here's what he said.

01:05He said his 94-year-old mother-in-law wouldn't complain, wouldn't bother her.

01:12She's probably a lovely woman.

01:14No kidding.

01:16Her son-in-law is a billionaire.

01:17What about that 94-year-old mother, living all by herself, doesn't have a billionaire in the family?

01:28Are all the retirees who depend on that monthly check to feed themselves?

01:32All those people with disabilities have no other source.

01:40What about all those people?

01:42That's who you fight for.

01:47So they should desperately need you.

01:50Folks, it's not just the Secretary of Commerce.

01:52We heard how others, empowered and emboldened by this administration, talk about Social Security.

02:01One of them called it a Ponzi scheme.

02:04A Ponzi scheme?

02:05What the hell are they talking about?

02:09People earn these benefits.

02:12They paid into that benefit.

02:14They rely on that benefit.

02:16And no one, no one, no one should take it away.

02:21You know, Franklin Roosevelt had a different view.

02:28He was president coming out of the Great Depression.

02:31He and all his colleagues saw great suffering.

02:34So much poverty.

02:36He also took steps to raise standard of living for ordinary Americans, including creating Social Security.

02:44He himself was from a very wealthy family.

02:46He didn't need Social Security, but understood how much it would mean to millions of Americans.

02:55He knew it would make America stronger in the process.

02:59And it has.

03:01Makes our economy stronger.

03:04Makes the community stronger.

03:06Makes family stronger.

03:08Gives peace of mind.

03:10And so the vast majority of Americans, including many wealthy Americans, still support, thank God, Social Security.

03:20And very wealthy billionaires still support Social Security.

03:24They may not rely on themselves, but they know.

03:27They know.

03:30Social Security deserves to be protected for the good of the nation as a whole.

03:34You've got to ask yourself, why is this happening?

03:47Why are these guys taking aim in Social Security now?

03:52Well, they're following that old line from tech startups.

03:56The quote is, move fast, break things.

04:00Well, they're certainly breaking things.

04:05They're shooting first and aiming later.

04:08And as a result, the result is a lot of needless pain and sleepless nights.

04:15My friend Governor O'Malley knows what they're really up to.

04:18He says, and I love his quote,

04:20they want to wreck it so they can rob it.

04:24They want to wreck it so they can rob it.

04:26And why do they want to rob it?

04:31In order to deliver huge tax cuts to billionaires and big corporations and keep it going.

04:36They want to make permanent the 2017 tax cuts,

04:39which overwhelmingly benefited the wealthiest Americans and the biggest corporations.

04:46That's going to cost $5 trillion.

04:49Where are they going to get $5 trillion to pay for it other than continue to run the deficit up?

04:57Well, what will they always do?

04:58By winning, by running up the national debt, number one,

05:03and then by taking the money from some...

05:04for...

05:05for...

05:17for...

05:19for...

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