Social security today celebrates its 90th anniversary, marking a major milestone for the program that supplies monthly benefits to about 70 million senior citizens, disabled people and family members of deceased workers.
When President Franklin D. When Roosevelt signed the Social Security Act in the law on August 14, 1935, he guaranteed for the first time that the workers had turned 65, they could rely in retirement after entering their 10th decade.
In the next 10 years, social security is expected to be cheerful from one Additional 12 million recipients, As RipBut even when it increases in importance, the program is facing increasing questions on increasing problems and its long -term viability.
While many policy experts believe that the program should be expanded, its outgoing now removes their income. Some Democratic MPs have also questioned the agency’s ability to serve retired people after Trump administration earlier this year. Cuts your workforce What is at the center on budget and policy priorities Sent to As “the biggest staffing cut in the history of SSA.”
As these challenges have increased, the confidence in the program has deteriorated, even three-fourths of Americans say that they believe that social security is “one of the most important programs” government has been offered, according to the recent AARP surveyIn the future of social security, faith has declined by 7% in the last five years, which has increased from 43% to 2025 in 2020.
Asked about these concerns, the Social Security Administration pointed to a Fox News Interview On Thursday, with his commissioner, Frank Bisigno, who said she is optimistic about the future of the program and the agency is working on improving its operation.
The White House also raised the issue with criticisms, spokesperson Liz Huston told CBS News that the administration is improving the customer service and “preventing illegal aliens from reaching out to benefit.” President Trump has again made social security great, “he said.
Wealth
A major headwind facing social security may not be new, but it is coming fast: its possible insolvency of its trust funds because the gap between its revenue and expenditure increases.
For example, in 2024, the cost of the program is $ 1.49 billion, but the total income was $ 1.42 billion, according to the Social Security Board of 2025, according to the trusts’ Report,
Due to the trend – which is expected to continue the aging population – Social Security Trust Fund is expected to be the fund Ended by 2034According to the report of the most recent trustees, one year early compared to the first forecast. This is a major source of stress for the so-called “Go-Brook” date Americans, who worry that they will not have enough money left until they reach the age of retirement.
While some workers believe that Trust Funds Insolvency means that social security will stop paying after that date, it is wrong. Because the program is funded through payroll taxes, there is a continuous stream of income in social security – although without financial cushions of trust funds, the program will face a shortage, which will cut profit.
Without a fixed, monthly benefits can be cut up to 23%, the Social Security Board of Trustees warned in its 2025 annual report,
But there are options to edge the trust fund. For one, there is a current cap on the amount of income under social security taxes, which is at $ 176,100 in 2025, which means that any income above that amount is free from payroll tax.
One remedy will be to raise a hat on parole taxes, an option that some Democratic MPs prefer. Another idea, floating by Some Republican MPsThe retirement age is to increase, which is currently 67 for those born after 1960.
Changes under President Trump
President Trump has vowed not to cut social security, in December, “Meat the Press” interviewing that “we are not touching social security, besides we can make it more efficient.” However, concerns have increased over the change in the program of the Trump administration, including cutting its employees and closing some field offices.
During a press call organized by advocacy groups, Vermont’s independent Sen Berney Sanders claimed that Mr. Trump and others in their administration are working overtime to try to eliminate social security. ”
Many Americans also say that they are worried about what kind of changes the new administration can make. According to a new survey From Nerdwallet, 61% of Americans believe that social security benefits will be cut under the current administration.
However, the White House said that social security has become more efficient under the leadership of Mr. Trump. One in statement Released on Thursday, the White House claimed that the agency is handling 70% more calls than last year and has cut the waiting time with the help of technology. It also said that the average waiting time for customers in field offices has declined by 23%.
SSA Commissioner Frank Bisigno wrote, “We have taken steps to reduce waiting time, increase security and navigate our programs.” public For Fox News on Thursday. “All ensuring that we give accurate benefits to those who are eligible to get them.”
Mr. Trump repeated on Thursday Promises To protect the program.
The event will become “strong, big and better” and “is about to be around a long time” with the Republican in -charge, he added to the White House comment.
Contributed to this report.
