John Harwood: … Why did the president break that promise not to touch Medicaid — separate from the ACA expansion? And does that mean — perhaps to the gratification of people in this room — that he is also likely to break his promise on Social Security and Medicare?

Mnuchin: I think the president has no intention on changing Social Security. I will tell you as a trustee of the Social Security Trust Fund, this is something that Congress may look at, OK, but the president does not want to change entitlements.

Harwood: But if he doesn’t want to change entitlements, why did you go along with the Medicaid reductions?

Mnuchin: Again, I think the Medicaid reductions, and what’s gone on, what the president is trying to do is control health care costs. I think as you heard in the introduction, health care costs are one of the largest challenges. We have a system that was broken, and we’re trying to fix that system and that’s what the health care plan is all about.

Harwood: Right, but he did say in the campaign he wasn’t going to touch that health care program, Medicaid, and Medicare as well.

Mnuchin: I’m not going to comment on the health care. The health care is going through the system. Again, the tax plan is all about creating jobs and growth.