Yes, Trump is putting your Social Security at risk

Like a good only child and de facto eldest daughter I talk to my parents pretty much every day. And as all three of us are avid news followers, our conversations these past few years range from dark to darker. It’s a good time. 

The past week or so, though, all my parents – who are in their 70s – have been able to talk about is Social Security and the Trump administration’s concerted efforts to dismantle it. Imagine Social Security – aka the bedrock of our social safety net—as a sturdy bridge we’ve all been crossing for decades. Now, picture someone chipping away at its foundations while insisting they’re just renovating. Spoiler alert: they’re not.

First, let’s address the elephant in the room. Over the years, President Trump has repeatedly assured us that of course he would never touch Social Security. In 2016, he promised, “I’m not going to cut Social Security like every other Republican.”  Fast forward to his current presidency, and we see a different story unfolding.

In 2020, Trump’s proposed budget included a $45 billion cut to the program supporting disabled individuals—a critical component of Social Security.  He also signed an order to postpone the collection of payroll taxes, which fund Social Security and Medicare, suggesting he would “terminate the tax” if re-elected. Analysts warned that such actions could threaten the dedicated funding for these programs – but Trump has never been big on listening to “experts,” as he visibly considers himself the ultimate authority on…everything. 

Fast forward to today, and the administration, with the generous and totally-not-transactional support of Elon Musk, is implementing significant cuts at the Social Security Administration. The plan includes laying off over 10% of the SSA’s workforce and closing 47 field offices, primarily in the South and Southeast. 

While President Trump assures no changes to benefits and aims to strengthen them, Democrats warn that these measures could undermine the agency’s efficiency and service to the 72.5 million Americans reliant on Social Security. Hence my parents’ very legitimate concerns.

So let’s talk ramifications. In the short term, these cuts could lead to delayed payments, longer wait times for service, and increased instances of overpayments. The reduction in staff threatens to deplete the agency’s institutional knowledge and further strain its already stretched resources.

In the long term, we’re staring down the barrel of a demographic shift. As baby boomers retire, the ratio of workers to beneficiaries is shrinking, putting additional strain on the system. 

The Social Security trust fund is projected to run out by 2035, potentially resulting in a 24.6% benefit reduction that will affect millions of retirees.  Instead of fortifying the program to withstand this shift, the administration’s actions are weakening its structural integrity.

But here’s the kicker: while claiming to protect Social Security, the administration is simultaneously undermining its funding. The 2017 Tax Cuts and Jobs Act, championed by Trump, reduced revenues by $1.5 trillion, increasing the federal deficit by $1 trillion.  This ballooning deficit is now being used as a pretext to justify cuts to essential programs like Social Security.

It’s time to pay attention, my friends. The bridge we’ve relied on for decades is being eroded under the guise of reform. And if we don’t act, we might find ourselves stranded without a safety net when we need it most.