Social Security & Retirement

2024

2024-12-08 During an interview with Meet the Press, Trump formally stated, “we are not touching Social Security” and “we are not raising ages”.

https://www.nbcnews.com/meet-the-press/video/trump-says-we-re-not-touching-social-security-in-proposed-cuts-to-government-spending-226493509716

2025 January

2025-01-20 The Republican Study Committee proposed a budget to raise the retirement age to 69, which would especially hurt low-income retirees. This type of decision requires recommendations from people like RFK and Bessent, and approval by Congress.

https://democrats-budget.house.gov/house-republican-budget-plans-cut-social-security-benefits

https://www.americanprogress.org/article/the-house-republican-study-committee-budget-proposes-harsh-changes-to-social-security/#:~:text=Under%20the%20RSC%20proposal%2C%20when,income%20and%20middle%2Dincome%20seniors

https://www.americanprogress.org/press/release-the-house-republican-study-committee-budget-proposes-harsh-changes-to-social-security/#:~:text=According%20to%20Roll%20Call%2C%20the,and%20author%20of%20the%20column.&text=For%20more%20information%20on%20this,at%20snadeau@americanprogress.org.

https://www.cnbc.com/2024/03/22/how-social-security-benefits-may-change-under-republican-democrat-proposals.html#:~:text=Both%20Social%20Security%20and%20Medicare,programs%20is%20projected%20to%20grow.&text=The%20trust%20funds%20that%20Social,as%20of%20fiscal%20year%202023.&text=This%20week%2C%20the%20Republican%20Study,these%20budgets%2C%22%20Sprick%20said.

https://www.nbcnews.com/politics/congress/republican-budget-raise-age-retirement-social-security-medicare-rcna144341

https://democrats-budget.house.gov/news/press-releases/cbo-finds-gop-social-security-plans-would-slash-benefits-thousands-dollars-fail#:~:text=Democrats%20will%20never%20stop%20fighting,increasing%20expenditures%20for%20that%20program.

2025 February

2025-02-28 During an interview with Joe Rogan, Elon Musk called social security a “Ponzi scheme”.

https://www.nbcnews.com/politics/trump-administration/elon-musk-social-security-concern-trump-allies-rcna197527

2025 March

2025-03-01 According to a news outlet, an email from the Social Security Commissioner was supposedly leaked which allegedly referred to privatizing Social Security, ““we need to revitalize SSA operations by streamlining activities, out-source nonessential functions to industry experts, and reinstating human judgment and common sense into every decision at every level.”

https://larson.house.gov/media-center/in-the-news/here-comes-trumps-privatization-social-security-administration

2025-03-04 During a joint address to Congress, Trump made unfounded claims that over 15M people were illegally receiving Social Security, stating recipients ranged in age from 100 to 360 years old. The unfounded claim did not address the fact that the Social Security Administration requires in-person verification with a doctor to provide or continue benefits. The breakdown he gave is this: Millions (non-specific) ages 100-109, 3.6M ages 110-119, 3.47M ages 120-129, 3.5M ages 140-149, 1.3M ages 150-159, 130K over the age of 160, 1039 people aged 220-229, 1 person somewhere between 240 and 249, 1 person age 360, making a total well over 16M.

https://www.cbpp.org/blog/setting-the-record-straight-on-social-security

2025 July

2025-07-31 News outlets reported that Treasury Secretary Scott Bessent once referred to the “Trump Baby Account” as a “back door for privatizing Social Security”. However, the same article referred to Bessent’s social media post clarifying that those accounts are “…an additive benefit for future generations, which will supplement…”, which White House Press Secretary Karoline Leavitt reasserted during a press conference. The article quoted Leavitt as saying, “What the secretary of treasury was saying, and what this administration believes, is that these Trump newborn accounts, which is an incredibly creative and great provision that was in the one big, beautiful bill for newborn babies and families and future generations of Americans, will help supplement not substitute Social Security”.

https://abcnews.go.com/Politics/bessent-clarify-comments-suggesting-social-security-privatized/story?id=124248243