President Trump's Potential Changes for Social Security So Far: 3 Things You Should Know
President Donald Trump was sworn into office on Jan. 20, and he has already embarked on an ambitious agenda. With the Trump administration attempting to make significant spending cuts, many retirees might be wondering what the 47th president's plans are for Social Security, which distributes benefits to tens of millions of Americans each month.Social Security has long been in a fraught position. The program will need to reduce benefits in 10 years if Congress doesn't make changes to shore up its finances. Although it's still early, let's take a look three things President Trump has discussed that would affect Social Security.As recently as Feb. 18, Trump promised not to cut benefits. On Fox News, Trump told Sean Hannity that "Social Security won't be touched, other than if there's fraud or something. It's going to be strengthened. But it won't be touched." Trump also said that his administration will not be making cuts to Medicare and Medicaid.Continue reading
President Donald Trump was sworn into office on Jan. 20, and he has already embarked on an ambitious agenda. With the Trump administration attempting to make significant spending cuts, many retirees might be wondering what the 47th president's plans are for Social Security, which distributes benefits to tens of millions of Americans each month.
Social Security has long been in a fraught position. The program will need to reduce benefits in 10 years if Congress doesn't make changes to shore up its finances. Although it's still early, let's take a look three things President Trump has discussed that would affect Social Security.
As recently as Feb. 18, Trump promised not to cut benefits. On Fox News, Trump told Sean Hannity that "Social Security won't be touched, other than if there's fraud or something. It's going to be strengthened. But it won't be touched." Trump also said that his administration will not be making cuts to Medicare and Medicaid.
