Trump marks 90th anniversary of Social Security: Why is it more threatened now?

While Trump said that Social Security was being strengthened under his watch, the program has been marred by concerns lately.

Updated on: Aug 15, 2025, 07:26:42 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

United States President Donald Trump signed a proclamation on Thursday marking the 90th anniversary of Social Security.

Trump said his administration had “kicked out” as many as 275,000 illegal immigrants out of the program. (Bloomberg)

While saying that his administration had “kicked out” as many as 275,000 illegal immigrants from the program, Trump also announced that there would be no tax on Social Security for seniors.

While Trump said that Social Security was being strengthened under his watch, the program, which provides benefits to almost 69 million Americans each month, has been marred by concerns lately.

Shortfall of money, agency staffing slashed

The shortfall in money required to pay the full benefits and the slashing of the agency staffing are some of the threats to the program. The so-called go-broke date of the Social Security program has also been moved up a year from 2035 to 2034, the Associated Press reported.

This means that after this date, the program would only be able to cover 81% of benefits, an annual report released in June stated. The report said that the earlier date was due to new legislation affecting benefits, which thus led to earlier projected depletion dates.

Trump, during the commemmoration of the program, also alleged that millions of dead people had been receiving Social Security benefits.

Concerns about privatization of program

Concerns regarding the privatization of the program propped up after US Treasury Secretary Scott Bessent's remarks. Bessent earlier this month said that the new tax-deferred investment accounts could serve as a “backdoor to privatization”, eventually withdrawing his remarks.

The plan to privatize the Social Security program has not been received well by the US public since it was pitched by Republican President George W. Bush in 2005, AP reported.

Glenn Hubbard, a professor at Columbia University who was an economist in Bush’s White House, told AP that Social Security would need to be reduced in size so that the benefits can be provided for future generations. ““If you want Social Security benefits to look like they are today, we’re going to have to raise everyone’s taxes a lot,” Hubbard said.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Get the latest headlines from US news and global updates from Pakistan, Nepal, UK, Bangladesh, Russia and US Iran war Live, get all the latest headlines in one place on Hindustan Times.