Trump Makes Social Security Announcement

President Trump marked the 90th anniversary of Social Security with a proclamation from the Oval Office, vowing to protect the program while touting provisions in his recently enacted tax law aimed at seniors. He described the program as “historic” and promised to always defend it, praising workers, families, and seniors as “the people who make our country prosperous.”

Trump hailed the One Big Beautiful Bill Act, signed in July, as delivering “the largest tax break for seniors in the history of our country.” The law grants a temporary $6,000 tax deduction for Americans aged 65 and older. Supporters in the administration point to this as proof of Trump’s commitment to older Americans, though some experts argue the benefits will favor the upper-middle class more than lower-income retirees.

He also claimed his administration’s anti-fraud initiatives would protect Social Security from collapse, asserting, “In four or five years, it’s going to go bust, but not anymore.” Trump tied part of the fraud problem to “illegal aliens,” echoing his broader immigration rhetoric.

However, projections from the Social Security Administration’s chief actuary suggest the recent tax and spending package could speed up the trust funds’ depletion, moving the estimated insolvency date from late 2034 to early 2034. This analysis comes amid Trump’s plans to significantly reduce SSA staffing and his repeated pledges to cut “billions” in fraud and waste.

SSA Commissioner Frank Bisignano, attending the anniversary event, announced the agency would adopt a “digital first” approach, aiming for 200 million Americans to create online My SSA accounts by the end of next year. He promised faster call wait times and a modernized system, declaring, “Social Security will be great again.”

Trump’s remarks drew praise from allies but also renewed criticism from opponents who accuse him of overpromising and underestimating the long-term financial challenges facing the program. For the president, however, the event was another opportunity to blend policy, campaign-style rhetoric, and branding offering a future where, in his words, seniors are “rewarded” and Social Security remains “strong, safe, and secure.”