President Trump's policies could accelerate depletion of Social Security funds, potentially running out sooner.
From Nasdaq: 2025-03-16 04:45:00
- Elon Musk’s comments on Social Security being a Ponzi scheme may not be a major concern, but President Trump’s policies could impact the program. Social Security trust funds are projected to be depleted by 2034, but Trump’s actions could accelerate this timeline.
- Tariffs implemented by Trump could lead to higher inflation, affecting Social Security cost-of-living adjustments. Tax cuts proposed by the president may reduce cash inflows to the program, potentially causing it to run out of money sooner.
- An immigration crackdown could further deplete Social Security trust funds by reducing contributions from unauthorized immigrants. Trump’s policies could result in the program running out of money by 2031, three years earlier than expected.
Read more at Nasdaq: Will President Trump Cause Social Security to Run Out of Money Sooner Than Expected? 4 Things to Know.