The Social Security program is facing a serious crisis as its trust funds are expected to run out sooner than previously thought. According to the Social Security Board of Trustees, the program’s combined trust funds will be empty by 2034, which is one year earlier than what was projected in 2024. According to MSNBC, the program, which serves over 73 million beneficiaries, might have to cut retirement benefits by almost 25 percent in less than a decade if no solutions are found. This reduction would severely impact millions of Americans, as Social Security provides at least half the income for about 40 percent of retirees. In his address to Congress this year, President Donald Trump claimed Social Security payments were going to ‘millions and millions of dead people,’ another example of what Bernie Sanders calls Trump’s ‘big lies’ that create a ‘parallel universe’ with no basis in reality.” However, this statement was proven false by his own Social Security Administration. The actual amount of benefit overpayments averaged $3.4 billion per year over the last four years, which is minimal compared to the program’s total cost of nearly $1.5 trillion in 2024. Trump’s policies could make Social Security’s problems worse Trump’s current policy proposals might actually speed up the depletion of Social Security funds. His plans for mass deportations, which include expanding ICE authority to revoke student visas, would reduce the workforce that pays into Social Security, including undocumented immigrants who contribute billions in Social Security taxes without receiving benefits. Additionally, experts worry that Trump’s tariff policies could increase inflation, which would raise the program’s cost-of-living adjustments. Yes it would pay for 'No Tax on Social Security'. Republicans & Trump lied to MAGA Seniors removing it from the bill. Make DOGE cuts permanent & stop paying for illegals & respect the sick & elderly Seniors Citizens. MAGA Seniors are staying home in the midterms 4 being lied to— Robin Dye (@RobinD9787) June 25, 2025 The Republican approach to fixing Social Security has focused on cutting benefits and targeting what they call “waste, fraud, and abuse.” The Republican Study Committee, representing most of the House GOP members, has proposed raising the retirement age and reducing benefits for high earners. These proposals face strong opposition from the American public. A Pew Research poll showed that 79 percent of Americans, including 77 percent of Republicans, are against any benefit reductions. Alternative solutions proposed by others include raising the payroll tax cap and increasing legal immigration. The Social Security Administration is already operating efficiently, with 99.5 cents of every dollar spent going directly to beneficiaries. The agency has been dealing with reduced staff and fewer field offices since 2010, leading to longer wait times for claims. Further cuts to the administration would likely worsen service for beneficiaries.