(American Greatness)—Nearly a century removed, the Republican president heralded his Democratic predecessor for “one of the most significant pieces of legislation ever signed into law,” the bill that created Social Security.
The program turned 90 this month. Without reform, its 100th anniversary is not guaranteed.
President Trump still heralded FDR for the program, created at the height of the Great Depression, and vowed in the Oval Office to preserve and improve it “for 90 years and beyond.” The president said this was his “sacred pledge to our seniors.” Had he not returned to the White House, Trump boasted, “Social Security was going to be destroyed.”
And true to his word, Trump has not meddled with senior benefits. His marquee legislation has, in fact, reduced their tax burden by making Social Security benefits tax-free. But the actuarial tables are less rosy than the president put on in front of the cameras.
According to new estimates from the program’s chief actuary, Karen Glenn, Social Security will not make it to its 100th birthday as things stand. Instead, the trust fund will be insolvent in just seven years. Money was expected to run out by the first quarter of 2033, but after the One Big Beautiful Bill became law and made benefits tax-free, that forecast was moved up slightly to the fourth quarter of 2032.
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