Social Security Benefits Cuts Are Now an Estimated 7 Years Away, and Trump's "Big, Booty Full Bill" Is Partly to Blame [View all]

In May, the average monthly Social Security retired-worker benefit made history by topping $2,000 for the first time in the program's storied history. Though this isn't a payment that's going to make aging workers rich, it has proved vital to helping them make ends meet.

Based on an analysis from the nonpartisan Center on Budget and Policy Priorities, the poverty rate for retirees aged 62 and over would jump from 10.1% (as of 2023) to an estimated 37.3% if Social Security didn't exist. Separate annual surveys from Gallup covering almost a quarter of a century have shown that 80% to 90% of retirees rely on their monthly Social Security income, in some capacity, to cover their expenses.

Maintaining the financial health of Social Security should be of the utmost importance for our nation's elected officials. Unfortunately, the foundation of America's leading social program is crumbling. While it's in no danger of disappearing or going bankrupt, the existing payout schedule, including near-annual cost-of-living adjustments, is very much at risk.

There are a lot of reasons for the program's projected shortfall, which has the potential for sweeping benefit cuts of up to 23% for retired workers and the survivors of deceased workers just seven years from now. One of those puzzle pieces of blame is President Donald Trump's flagship tax and spending law, the "Big, Beautiful Bill."

https://www.msn.com/en-us/money/retirement/social-security-benefits-cuts-are-now-an-estimated-7-years-away-and-president-donald-trump-s-big-beautiful-bill-is-partly-to-blame/ar-AA1NpdrF

You old farts need to get off your dead asses and get to work. - The GOP