President Trump saves Social Security $800 million annually, but benefit cuts are still expected.

From Nasdaq: 2025-04-20 18:05:00

President Trump is working to protect Social Security by cutting administrative expenses and reducing fraud, saving $800 million per year. However, benefits cuts are still expected for all recipients. Social Security faces a crisis due to shifting demographics, with the trust fund set to run out by 2033. The program is projected to run a deficit of $180.7 billion this year, and the Trump administration’s efforts to cut spending won’t have a significant impact. To save Social Security, Congress may need to consider cutting benefits or raising taxes, options Trump has previously dismissed.

Source: https://www.fool.com/retirement/2025/04/07/social-security-changing-president-trump-retirees/

Source: https://www.fool.com/retirement/2025/02/01/president-trump-break-his-social-security-promise/

Source: https://www.fool.com/retirement/2025/03/22/president-trumps-biggest-social-security-proposal/



Read more at Nasdaq: President Donald Trump Is Saving Social Security Hundreds of Millions of Dollars per Year. But Is It Enough to Prevent Benefit Cuts?