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Social Security Trust Fund reduction of $2.3 trillion by 2031?
2
Resolution / Starting Odds
Yes • 50%
No • 50%
Official reports from the Social Security Administration and the Committee for a Responsible Federal Budget
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Trump's Plans Could Accelerate Social Security Insolvency to 2031, Leading to 33% Benefit Cuts
Oct 21, 2024, 04:33 PM
Donald Trump's proposed policies could accelerate the depletion of the Social Security Trust Fund, leading to its insolvency in as little as six years, according to an analysis by the Committee for a Responsible Federal Budget. The nonpartisan budget watchdog group estimates that Trump's plans would drain $2.3 trillion from the fund and could result in a 33% across-the-board cut to benefits. Currently projected to become insolvent in 2034, Social Security's insolvency could be advanced to 2031 under Trump's proposals. His plans include eliminating federal taxes on Social Security benefits, which, while potentially appealing to recipients, would worsen the fund's fiscal outlook. One expert described the impact of these proposals as 'beyond irresponsible.'
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