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|    soc.retirement    |    For seniors: retirement, aging, geronto    |    157,025 messages    |
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|    Message 156,994 of 157,025    |
|    useapen to All    |
|    Trump Vows Social Security Will Thrive f    |
|    18 Aug 25 04:36:14    |
      XPost: alt.social-security-disability, alt.politics.trump, alt.f       n.rush-limbaugh       XPost: sac.politics, talk.politics.guns       From: yourdime@outlook.com              Nearly a century removed, the Republican president heralded his       Democratic predecessor for “one of the most significant pieces of       legislation ever signed into law,” the bill that created Social       Security.              The program turned 90 this month. Without reform, its 100th anniversary       is not guaranteed.              President Trump still heralded FDR for the program, created at the       height of the Great Depression, and vowed in the Oval Office to preserve       and improve it “for 90 years and beyond.” The president said this was       his “sacred pledge to our seniors.” Had he not returned to the White       House, Trump boasted, “Social Security was going to be destroyed.”              And true to his word, Trump has not meddled with senior benefits. His       marquee legislation has, in fact, reduced their tax burden by making       Social Security benefits tax-free. But the actuarial tables are less       rosy than the president put on in front of the cameras.              According to new estimates from the program’s chief actuary, Karen       Glenn, Social Security will not make it to its 100th birthday as things       stand. Instead, the trust fund will be insolvent in just seven years.       Money was expected to run out by the first quarter of 2033, but after       the One Big Beautiful Bill became law and made benefits tax-free, that       forecast was moved up slightly to the fourth quarter of 2032.              At that point, according to analysis by the Congressional Research       Service, the federal government would have three options at the point:       increase taxes, decrease benefits, or a combination of the two.              Trump, who will have joined the ranks of former presidents by then,       seemed unconcerned with those predictions. “You keep hearing stories       that ‘in six years, seven years, Social Security will be gone,’” he told       reporters, “and it will be if the Democrats ever get involved because       they don’t know what they’re doing.” So long as his party is in control,       he promised, “it’s going to be around a long time with us.”              Despite accusations from the left, Republicans have been unwilling to       touch the program despite the flashing fiscal warning lights. A       political football during campaign season, the popular entitlement is an       entrenched third rail on Capitol Hill.              The financial troubles of Social Security are not new. They have       worsened through both Republican and Democratic administrations alike.       Every single report published by the Social Security trustees since       1983, as the liberal Brookings Institution notes, has found that the       program faces a shortfall. Confronting that fiscal cliff was once       conservative orthodoxy.              Former President George W. Bush warned that Social Security was “headed       toward bankruptcy.” Betting much of his legacy on the reform, the       Republican proposed partial privatization and a provision allowing       citizens to divert some of their taxes into investments. Ultimately, it       was stillborn and never even received a vote in Congress. Former       Massachusetts Gov. Mitt Romney later proposed more modest reforms while       running for president, like increasing the retirement age and reducing       benefits for the wealthy, only to be pilloried on the campaign trail.              Despite warnings from Elon Musk, who described Social Security as “the       biggest Ponzi scheme of all time” while still a member of the       administration, Trump has shown no appetite for overhauling the program       in its entirety. His administration has instead focused on making the       bureaucracy more efficient while rooting out waste, fraud, and abuse.              Social Security Administrator Frank Bisignano has been at the helm of       the agency for less than three months and arrived at the White House       eager to give a report.              Customer service has improved; the average wait time is down from 30       minutes to six. New technology has gone live; seniors can now access       information 24//7 online about their benefits. The backlog of disability       claims has been reduced by 26% and 3.1 million payments were sent to       beneficiaries months ahead of schedule.              To the delight of the president, more than a quarter of a million       illegal immigrants have been removed from the system, and millions over       the age of 100 have been removed from the rolls, though it is unclear if       a majority of those deceased centenarians were still receiving payments.              After the modernization efforts are complete and fraud is addressed,       Bisignano told reporters, “When we do all that, then we’ll really know       the answer to if we have a hole.”              Some experts find that kind of assessment overoptimistic and stress that       fraud is already comparatively rare in Social Security. “There is always       room for improvement, especially when it comes to the disability       program,” the Committee for a Responsible Federal Budget concluded in a       recent paper, “but fraud and abuse are rare in the Social Security       program – certainly not large enough to make a significant difference in       the program’s finances.”              A spokesperson for the Social Security Administration told       RealClearPolitics that ensuring the long-term health of the trust fund       remains “a top priority” and that Bisignano is committed to working with       Congress, the White House, and other stakeholders to strengthen the       program.              “During the Oval Office event today,” the spokesperson continued,       “Commissioner Bisignano detailed some of the ways SSA is working to       tackle waste, fraud, and abuse under President Trump’s leadership to       ensure that the program can continue to thrive for the next 90 years.”              https://amgreatness.com/2025/08/16/trump-vows-social-security-will-thrive       -for-another-90-years/              --- SoupGate-Win32 v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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