Trump's policies may accelerate Social Security depletion
fool.com —
Recent comments suggest that President Trump's policies may impact Social Security's financial stability. The program's trust funds are projected to be depleted by 2034, but some analyses indicate they could run out by 2031 due to Trump's proposals. Trump's proposed tax cuts could reduce cash inflows to Social Security. Additionally, his immigration policies may decrease contributions from undocumented workers, who pay taxes but do not receive benefits, further straining the program's finances. Goldman Sachs forecasts higher inflation due to Trump's tariffs, which could lead to increased Social Security cost-of-living adjustments. If inflation exceeds current projections, it may accelerate the depletion of the trust funds.