From USA Today:
In an AARP survey released July 22, only 36% of Americans voiced confidence in the future of the retirement trust fund, down from 43% in 2020.
AAnother July survey, from the nonprofit Alliance for Lifetime Income, found that 58% of older Americans fear Social Security cuts because of recent news about potential changes to the program. …
In the new AARP survey, 25% of people ages 18-49 voiced confidence in the program’s future, compared with 48% of those 50 and older. …
It’s reality not a scare tactic. Deportations.. low birth rates .. AI..a weakening economy will help deplete the trust fund.
ReplyDeleteAnd that’s prior to Palantir getting their grubby hands on our money!!
DeleteThe trust fund is due to an across the board cut in late 2032 unless Congress acts. One can live the ostrich life but that’s our reality.
ReplyDeleteThe people just need to have the will to insist that their representatives not cut benefits, and that any solutions to right the trust fund have to be ones that don't cause pain to lower income beneficiaries. Rich folks got their big tax break so they can afford it. Let them pay for it by removing the cap for a start.
ReplyDeleteScott Bessent, President Donald Trump’s Treasury Secretary, said at a Breitbart event Wednesday that the “Trump Accounts” created by the “Big Beautiful Bill” are a “backdoor to privatizing social security.”
ReplyDelete“Trump Accounts,” included in the president’s massive tax and spending package, consist of a one-time deposit of $1,000 from the federal government for all children born in the U.S. from 2025 to 2028. Parents and others will be able to contribute up to $5,000 per year until the child turns 18.
“We want you to understand it,” said Bessent, referencing the accounts. “I’m not sure when the distribution date should be, whether it’s 30 and you can buy a house, should it be 60… but in a way, it is a backdoor for privatizing social security.”