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John Larson: “There's only one agency of the three that has a trust fund…”

Featuring: John Larson, Democratic | U.S. House Connecticut, 1st Congressional District

Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield

Published June 2, 2025 | Video Starts at 03:53

And he would be on television talking about, well, those are the areas that we have to cut. Now, of those three agencies, by the way, keeping in mind that he was charged with finding $2 trillion in cuts, There's only one agency of the three that has a trust fund that's Social Security. You know how much money is in that trust fund? No, I don't. How about $2,700,000,000,000? So when they say they're looking at cuts, well, now this is the people's money. (03:53–04:02)

CLAIM

Asserts that Social Security is the only one of the three agencies with a trust fund.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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John Larson

“If you took all three of those agencies, the Department of Defense, Medicare and Medicaid and Social Security, they comprise 70% of the…”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 03:07-03:20
“The last time Congress enhanced Social Security across the board, Richard Nixon was President of the United States.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 07:52-08:01
“In every congressional district, all 435 of them, on a monthly basis, on average, districts get over $200 million that come in to people.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 10:06-10:20
“70% of your tax cut goes to the nation's wealthiest 1%.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 17:17-17:23
“Millionaires would get $89,000 in tax cuts.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 19:00-19:06
“People making 50,000 and below, you get 72 cents a week.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 19:08-19:15
“Elon Musk is what's called a special volunteer, which is legal, but it has a limited amount of time.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 01:46-01:53
“Trump, however, said, I'll determine what the time is going to be on that.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 01:52-01:58
“Musk set out to say, okay, that's my job. And he, he hired all these young people to go in who are capable people, I'm sure, but their…”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 02:08-02:28
“The good news is that we were able to stop that, but not before they had done a lot of damage.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 02:45-02:53
“Medicare [is] essentially the health care system for the elderly.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 03:01-21:36
“How about $2,700,000,000,000? So when they say they're looking at cuts, well, now this is the people's money.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 04:05-04:17
“Has Social Security ever missed a payment? No.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 05:19-05:19
“During that same time, Social Security never missed a payment.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 05:43-05:51
“It provides for spouses, it provides for widows, it provides for children, and it also provides for the disabled.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 06:01-06:10
“Social Security isn't essential because it provides the floor for all individuals.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 06:44-06:51
“It's also the safety net for capitalism and entrepreneurialism.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 07:05-07:12
“It hasn't been adjusted since 1971.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 10:26-10:31
“It's very strong amongst Democrats, obviously, but the Republicans have been unwilling to take it up.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 10:38-10:45
“The President has indicated that what he's going to do and he's flip flopped on this several times.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 12:54-13:00
“The Supreme Court ruled yesterday that, hey listen, only Congress has the ability to do that [implement tariffs].”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 13:50-14:07
“Republicans control the House and the Senate and the presidency.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 14:08-14:12
“These tariffs end up hurting major American industries, most notably agriculture and food.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 14:15-14:23
“Their budget proposal [Republicans'] to give billionaires more tax cuts at the expense of working people.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 15:18-15:29
“Republicans in their budget [are proposing] to cut [Medicare].”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 21:24-21:26
“Democrats submitted proposals again to stop the cuts to Medicare.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 22:03-22:10
“They're making cuts to Medicare so they can pay billionaires more money.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 22:11-22:16
“Republicans control the House and they control the Senate.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 22:30-22:34
“In the Senate, all they need is for three [Republicans] to oppose it and the bill will be stopped.”
Congressman John Larson Discusses Social Security, Medicare, and Tariffs on Community Focus in Bloomfield | Uploaded June 2, 2025 | 22:46-22:52