3 Ways Trump Has Proposed Cutting Social Security

There's no denying it any longer -- Social Security is in some pretty big trouble.

Since 1985, the annually released Social Security Board of Trustees report has cautioned that the program wouldn't bring in enough revenue over the long term (defined as the subsequent 75 years following the release of a report) to cover its outlays. As of 2020, Social Security's unfunded obligations had swelled to an estimated $16.8 trillion between 2035 and 2094. Without intervention, benefit cuts of up to 24% may be needed for then-current and future retired workers by 2035.

The future of the Social Security program depends on the actions of lawmakers in Washington, and it all starts at the top with the president. Although Donald Trump has largely kept his distance from Social Security, preferring instead to focus on indirect solutions to grow the U.S. economy and increase payroll tax collection, he has made or suggested three proposals that would ultimately result in cutting Social Security's outlays.

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Source Fool.com