Potential GOP presidential candidate Pence calls for 'common sense' Medicare, Social Security reform

Former Vice President Mike Pence is calling for "common sense and compassionate solutions" to reform Social Security and Medicare programs.

Pence made the comment Tuesday amid speculation about a possible 2024 White House bid and extended the debate within his Republican Party about calling for changes to entitlement programs, particularly for seniors, during a presidential election cycle.

"What we need now is leadership because, if we act in this moment with the support of this generation, we can introduce common sense reforms that will never touch anyone who is in retirement, or anyone who will retire in the next 25 years," he said at Washington & Lee University in Lexington, Virginia, according to The Associated Press."It’ll just take courage to do it, and that’s where your generation will come in."

Some experts predict Social Security will be insolvent in about a dozen years, while Medicare will be unable to pay out its benefits in less than half of that time. Economists have said the programs will drive the future national debt, which is already more than $31 trillion.

"President Biden won’t even discuss common sense reforms of Social Security and Medicare, and too many leaders in my political party take the same position," Pence also said. "If that frustrates you, good – it should, because it’ll be your generation that’s robbed of your dreams and opportunities."

Pence also said he plans on announcing this summer whether he will seek the Republican presidential nomination.

His views on entitlement reform differ from those of former President Donald Trump, the presumptive GOP frontrunner. 

"Under no circumstances should Republicans vote to cut a single penny from Medicare or Social Security to help pay for [President] Joe Biden's reckless spending spree," Trump said in January.