Free Republic

Social Security faces automatic benefit cuts in less than a decade due to the projected insolvency of its trust fund ... Americans' overall confidence in Social Security dropped from 43% in 2020 to 36% in 2025, the lowest level since it fell to 35% in 2010. Younger Americans Younger Americans are even less confident in the program. Only 25% of respondents between the ages of 18 and 49 were confident in Social Security's future, whereas 48% of those 50 and older expressed confidence. ... retirees are relying more on Social Security than they were two decades ago, with the share...

Social Security's retirement fund is set to run short in just seven years — which could end up slashing benefits for millions of Americans by thousands of dollars a year. According to latest projections, retirees could face automatic 24 percent benefit cuts as early as the end of 2032. Social Security relies on its trust fund to provide monthly benefit checks to around 70 million Americans. Once the reserves are exhausted, federal law requires that benefits be cut to match incoming revenues

A defense contractor and top campaign contributor to House Appropriations Committee chairman Rep. Hal Rogers (R-KY) is in the running to get a contract to print millions of IDs and other government documents associated with the president’s planned executive amnesty, Breitbart News has learned exclusively. The contractor, General Dynamics, is on the list of “interested vendors” for a draft solicitation that U.S. Citizenship and Immigration Services (USCIS), an agency of the Department of Homeland Security (DHS), sent out to vendors in October. If the president goes through with an executive amnesty for millions of illegal aliens and General Dynamics gets...

The Big Beautiful Bill is making waves, and it's bringing some important changes for retirees—especially when it comes to tax deductions. In this video, I'll break down exactly how this new legislation affects retirement savings, tax breaks, and the financial future of retirees by drawing out the various deductions in context with your income. If you're wondering how the Big Beautiful Bill could impact your taxes, pension plans, or deductions, this video is for you! How the New Tax Law Will Actually Affect Your Tax Bill ($6,000 Senior Deductions, Roth, IRA) | 17:31 The Retirement Nerds | 198K subscribers |...

**SNIP** A study released this week by GOBankingRates calculated the amount of money that a "comfortable" retirement would require without income from Social Security factored in and the associated yearly expenses a retiree would face in each U.S. state. **SNIP** Alabama ($70,492 cost of living per year): $1,409,839 Alaska ($110,457 cost of living per year): $2,209,137 Arizona ($100,281 cost of living per year): $2,005,627 Arkansas ($67,502 cost of living per year): $1,350,045 California ($155,117 cost of living per year): $3,102,333 Colorado ($114,744 cost of living per year): $2,294,882 Connecticut ($105,428 cost of living per year): $2,108,563 Delaware ($94,392 cost of...

The recent analysis by the Committee for a Responsible Federal Budget regarding the 2025 Medicare Trustees’ Report highlights the looming challenges with Medicare and Social Security, but it only scratches the surface of the deeper fiscal issues our country faces. To understand the full financial reality, we must go beyond trust fund “solvency” and examine the actual commitments the federal government has made—and continues to make—without fully accounting for them. As the Congressional Budget Office has noted: “In the public debate, ‘solvency’ means keeping the trust funds from exhausting their balances and ensuring the ability of the funds to finance...

Just received this email from SocSec - This is NOT posted on the SocSec website - "BBB provides an enhanced deduction for taxpayers aged 65 and older..."

The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans. The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy. “This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly...

The Social Security Administration is clawing back more in overpayments than it has in the past thanks to a new rule. Up to two million Americans could see their Social Security payments reduced by 50% in late July. The reduced payments are being implemented so that the Social Security Administration (SSA) can claw back billions in funds that it overpaid to some Americans over the past several years. Here’s what to know about the reduced Social Security payments and who could be affected. What’s happened? In April, the Social Security Administration announced that it would begin recouping approximately $72 billion...

Medicare and Social Security funds are now expected to drain out earlier than previous estimates, according to two new reports released on Wednesday. Social security is made up of two trust funds—old-age and survivors insurance (OASI) and disability insurance (DI). The two are combined for analyzing the overall status of social security funds, referred to as the Old-Age, Survivors, and Disability Insurance (OASDI) program. The 2025 OASDI trustees report, published on June 18, said the total cost of the social security program started exceeding its total income in 2021. Currently, the fund is projected to be depleted by 2034, a...

The trust fund Social Security relies on to pay retirement benefits may be depleted in 2033, according to an annual report released by the Social Security Board of Trustees on Wednesday. That is unchanged from last year’s projections. At that time, 77% of those benefits will be payable, according to the report. Social Security’s combined trust funds — the Old-Age and Survivors Insurance and Disability Insurance trust funds — will have enough revenue to pay scheduled benefits and administrative costs until 2034, according to the report. That is one year earlier than projected last year. At that time, 81% of...

The drama offers a case study in how Elon Musk’s team sought to run a critical government agency through misinformation and social media blasts — and how longtime employees responded.Elon Musk stood before a giant American flag at a Wisconsin political rally in March and rolled out an eye-popping allegation of rampant fraud at the Social Security Administration. Scammers, he said, were making 40 percent of all calls to the agency’s customer service line. Social Security employees knew the billionaire’s claim had no basis in fact. After journalists followed up, staff members began drafting a response correcting the record. That’s...

WASHINGTON, D.C. – The One, Big, Beautiful Bill fulfills President Trump’s promise to seniors and provides welcome tax relief after four years of inflation robbed their retirement under President Biden. Each senior will receive an additional bonus of $4,000 to the standard deduction, putting more money in the pocket of millions of low- and middle-income seniors.

Elon Musk has warned "if the massive deficit spending continues," there will be no money for Social Security, health care or defense, as he continues opposition to President Donald Trump's "Big Beautiful Bill." The tech billionaire and former head of the Department of Government Efficiency (DOGE) made the comment about Trump's spending package on his Truth Social website in the early hours of June 4. Newsweek contacted Musk for comment via the SpaceX and Tesla press offices outside of regular office hours on Wednesday. Why It Matters The House narrowly passed Trump's budget package on May 22 in a 215-214...

Wall Street veteran Frank Bisignano has been confirmed by the Senate to serve as commissioner of the Social Security Administration.WASHINGTON (AP) — Wall Street veteran Frank Bisignano was confirmed by the Senate on Tuesday to lead the Social Security Administration, taking over at a turbulent time for the agency that provides benefits to more than 70 million Americans. The Senate confirmed Bisignano in a 53-47 vote. Bisignano’s confirmation comes after a months-long series of announcements at the Social Security Administration of mass federal worker layoffs, cuts to programs, office closures and a planned cut to nationwide Social Security phone services,...

Elon Musk's Department of Government Efficiency announced Sunday that, well, there were a lot of people over the age of 120 still on the Social Security rolls. A LOT. That's so many geezers. According to Breitbart, DOGE has been providing regular updates on the growing number of seemingly fraudulent Social Security recipients. And in the most recent update, delivered last week, DOGE revealed that a total of 12.3 million individuals listed as 120+ years old were now officially marked as deceased in the system. Back in March, Musk controversially claimed that an alleged 2.1 million illegal immigrants had also enrolled...

DOGE: Social Security Officially Removes 12.3 Million Individuals Listed Age 120+ 111 Elon Musk holds a chainsaw reading "Long live freedom, damn it" during the annuaSAUL LOEB/AFP via Getty Hannah Knudsen26 May 20251,624 2:03 Social Security has removed from its rolls 12.3 million individuals listed as 120 years old or older, according to the U.S. Department of Government Efficiency (DOGE). The discrepancies in the Social Security figures and the alarming ages of some of the individuals listed have garnered national attention over the last several months. As a result, in March DOGE began to update the American people on the...

Millions of Americans rely on Social Security payments to make ends meet, and with June 2025 approaching, many are asking: When will checks arrive — and is anything changing? The good news is that the payment calendar remains consistent, but there are some new developments retirees and disability beneficiaries should be aware of this month.

BOSTON – A Colombian woman, unlawfully residing in Boston, has been indicted by a federal grand jury for identity theft offenses, including receiving rental assistance, Social Security and SNAP benefits, as well as voter fraud under the stolen identity. The defendant also allegedly applied for a United States passport and obtained a Massachusetts Real ID and eight other state IDs. Lina Maria Orovio-Hernandez, 59, was charged in a superseding indictment with one count of false representation of a Social Security number; one count of making a false statement in an application for a United States passport; one count of aggravated...

On Thursday’s “Alex Marlow Show,” Rep. Mary Miller (R-IL) argued that eliminating taxes on Social Security should be brought up as a separate bill.Miller said that due to issues with Senate rules, eliminating Social Security taxes in the reconciliation bill apparently isn’t doable, but “we’re double and triple-taxed as Americans.”She added that eliminating taxes on tips was passed by te Senate with support from Democrats so “keep hope alive, we need to just be aggressive and get things codified, get it on the floor, make people vote on it.”“The Alex Marlow Show,” hosted by Breitbart Editor-in-Chief Alex Marlow, is a...