Trump's Social Security promise may not hold true

President Donald Trump's promise not to cut Social Security may be misleading. Many retirees rely heavily on Social Security benefits to meet their daily expenses. Polls show that 80% to 90% of retirees consider it an important source of income. Social Security has faced financial challenges for decades. The program's funding has been declining, and the most recent report warned of a $23.2 trillion shortfall over the next 75 years. Additionally, the Old-Age and Survivors Insurance Trust Fund (OASI) could run out of reserves by 2033, which may lead to benefit cuts of up to 21% if no changes are made. While Trump has stated he will not implement major cuts to Social Security, he has spoken about efficiency reforms that could reduce outlays. These reforms include reducing the duration of benefits for disabled workers and cutting administrative costs. Critics argue that these measures will not address the underlying problems facing the program. Efforts to save costs may sound beneficial on the surface, but they do not solve the long-term funding issues. Even if these cuts save billions, Social Security's costs will still exceed its income by about $2.24 trillion over the next ten years. Meaningful reform will require difficult decisions that may upset voters. Previous bipartisan efforts were able to extend the program's longevity, but the current Republican approach does not effectively address the looming financial crisis. The future of Social Security will depend on whether Trump or his successor is willing to make necessary changes.