Social Security Insolvency Fears Rejected by Trump Official
Summary
The Social Security Commissioner, Frank Bisignano, said Social Security will continue to operate for 90 more years despite concerns that its trust fund could run out in six years. The Social Security Administration’s report shows that the trust fund reserves may be depleted by late 2032, after which benefit payments would drop to about 78% of what is scheduled.Key Facts
- Social Security provides retirement, disability, and survivor benefits to millions of Americans.
- The Old-Age and Survivors Insurance Trust Fund may be depleted by the fourth quarter of 2032.
- After depletion, the trust fund income can only pay about 78% of scheduled benefits.
- The Disability Insurance fund is expected to pay full benefits through at least 2100.
- The combined Social Security trust funds declined by $160 billion in 2025, ending with $2.56 trillion in reserves.
- Social Security Commissioner Frank Bisignano encouraged lawmakers to work together to maintain the program’s stability.
- President Donald Trump suggested investing Social Security trust funds in the stock market as a possible change.
- Cost-of-living adjustments for Social Security benefits are announced annually, with the next update expected soon.
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