President Trump said he “will not raise the retirement age by one day” – will he keep his promise?

Social Security is a program that millions of older Americans rely on. Yet it’s facing its share of financial challenges.

In the coming years, Social Security expects to owe more in benefits than it collects in revenue as older workers retire in full force. Social Security will need to tap its trust funds to keep up with its benefit obligations, but those funds aren’t infinite.

Once the program’s trust funds are out of money, Social Security may be looking at benefit cuts of more than 20%. And that’s a scary thought for the millions of older Americans who depend on that income today. It’s also frightening for current workers who aren’t able to save for retirement and will need Social Security down the line.

During his campaign, President Trump made a point to say that he would not cut so much as a dollar from Social Security. He also promised not to make changes to full retirement age. But has he held true to his word?

Social Security remains untouched

So far, President Trump has not taken any steps to cut Social Security benefits. If anything, he’s been pushing to eliminate taxes on Social Security so that seniors can keep their monthly checks in full.

President Trump has also not taken steps to make changes to the program’s full retirement age, which is 67 for people born in 1960 or later. Full retirement age is when Social Security recipients can collect their monthly benefits without a reduction.

Because Social Security is facing a major financial shortfall, some lawmakers have suggested raising full retirement age by a few years. And the reality is that something needs to be done to pump more money into Social Security.

But raising full retirement age is a solution that’s unlikely to sit well with workers today. And it’s also a solution it will take time to phase in — time lawmakers really don’t have given that we may be about 10 years away from Social Security’s trust funds running dry. So all told, it’s not a popular fix. And thankfully, President Trump does not seem eager to make this unwanted change.

What President Trump has done to Social Security so far

Since taking office, President Trump has signed an executive order creating the Department of Government Efficiency (DOGE). DOGE’s aim is to cut wasteful government spending, and that extends to Social Security.

Social Security has not been immune to waste in recent years, and the hope is that with DOGE’s involvement, critical funds can be conserved. Social Security has begun cutting staff and identifying cost-saving opportunities. A number of Social Security offices are also expected to close.

But all told, it does seem like President Trump is staying true to what he promised during his campaign in the context of Social Security. Of course, just because he’s not actively taking steps to cut benefits doesn’t mean that won’t be an eventual outcome.

If lawmakers don’t do something to address Social Security’s financial shortfall, benefit cuts may be inevitable. But it’s good to see that President Trump isn’t taking active steps to reduce an extremely critical income source for seniors.