5 Clues That Trump May Cut Social Security If Reelected
Although most of America is likely focused on the coronavirus disease 2019 (COVID-19) pandemic, it's important not to lose sight that we're now less than six months away from Election Day. With a record-breaking field of presidential candidates now whittled down, we'll either be electing former Vice President Joe Biden (D) to his first term as president or reelecting Donald Trump (R) to his second term.
No matter who winds up in the Oval Office come January 2021, one of the biggest issues that needs attention is the most successful social program in history, Social Security.
Recently, the Social Security Board of Trustees released its annual report detailing the short-term (10-year) and long-term (75-year) outlook for the program. Similar to last year's report, Social Security is expected to completely deplete its nearly $2.9 trillion in asset reserves by 2035, with the total cash shortfall between 2035 and 2094 now standing at a staggering $16.8 trillion.
Source Fool.com
