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trump affects social security

From Birch Gold Group

The dust is still settling after the results of this year’s historic election, and Americans are trying to imagine what the country will look like when president-elect Donald Trump takes office. With Republicans having control in both the Congress and Senate, Trump will have an unprecedented level of power to enact change on the country, and that power could mean serious changes concerning America’s retirement system, especially Social Security.

No matter how far away from retirement you are, it’s imperative for you to understand what Trump and Federal legislators could have planned for Social Security, and what you should do about it.

Mixed Messages

Throughout the campaign, Trump’s plan to give out massive tax cuts while simultaneously boosting military, infrastructure, and energy spending left many worried that he might cut programs like Medicare, Medicaid, and Social Security to make up the difference.

Trump reassured Americans that he wouldn’t consider such cuts to fund his plan, but in his book, The America We Deserve, he labels Social Security as a “ponzi scheme” and claims it should be privatized. And even if he’s changed his mind since then, strong party pressure could encourage him to break that promise.

Howard Gleckman comments:

[Paul] Ryan and other House Republicans have been trying for years to cap the government’s share of Medicare, a step that would lead to huge jumps in premiums for seniors, and to limit Social Security benefits by raising the retirement age, change the cost of living index, or other adjustments. In the campaign, Trump said he’d oppose those changes. But I would not be surprised if he accepted changes that Congress brought to him.

A Blessing In Disguise?

Here’s the thing: in its current state, Social Security is indeed a broken system that could face serious shortfalls in the not-too-distant future. The real question is whether Trump will rip off the Band-aid now at the expense of current and near-term beneficiaries, or keep propping up the system to avoid making waves.

Just remember, if Trump does decide to bite the bullet and reign in Social Security — or even work toward phasing it out altogether — it wouldn’t be all bad news. The result could mean a huge reduction in income taxes for current workers, which in turn would bring further economic stimulation and a stronger middle class.

It would be a severely bitter pill to swallow, but suffering today to create a stronger, healthier economy tomorrow might be exactly what we have to do.

How to React

We don’t know what Trump will do when he gets into office or even how markets will respond over the next four years. As a result, Americans are starting to wonder how and when they should change their savings and strategies for retirement.

Thankfully, the answer is relatively simple.

Through a long-term lens, history shows that a single president is unlikely to have a catastrophic impact on the market, so you shouldn’t do anything drastic.

What you should do, however, is hedge your savings using a physical asset like gold. Physical assets hold tangible value that never goes away, unlike stocks, bonds, and traditional investments. Plus, they have an inverse relationship to the market, meaning when the market goes down, they tend to go up.

Regardless of age, anyone concerned about what America’s retirement climate will look like in the future should consider using gold to protect their wealth and financial security.

  • nanygoat

    When Lyndon Johnson took Social Security out of the special trust fund and put it in the general fund, where it could be borrowed from, the government HAS been borrowing from it ever since. This is the reason it’s in trouble. Trump wants to privatize it and put it back where it belongs. I’m all for this. I don’t like the idea of taking my hard earned money and “giving” it to some person who doesn’t want to work and is on welfare. This is Socialism pure and simple.

  • Deborah Foehr

    I believe that President Trump will work towards taking it back out of the general fund and will immediately end all SS to people who have never paid in. I have worked since I was 14, ever during college and I am now 66 and wondering how to live on the pittance they give me back each month. I believe he will take the reins to help seniors as well as the middle class.

  • Forrest Braley

    Facts are being exsposedd now

  • bpgagirl22VAnow

    Amen Sister! Me either! I’m on Judge Ordered SS Disab. and I worked my ass off during my 40 quarters and when the Judge found out all of my medical and some recent medical that had come in as the case was progressing which put me way over the top she was LIVID! She was so angry my Lawyer said that she made SS pay me all my backpay from them denying me. THEN my Ex had the audacity to ridicule me by saying “How did you con a Judge?!” I just looked at him and said “first of all you don’t CON a Judge especially when all my medical came through!” then “when I actually got it plus the check for the backpay – OMG – he had the audacity to ask me “When you get your SS can I manage your disability?” I just looked at him and went “H FKING NO! I’d never see a damned dime of it!” The following year he “supposedly moved up to our son’s house to help him with some repairs, unbeknownst to me – that was HIS “exit” to start living apart as separated, I asked him “are you abandoning me?!” He goes “no I’m just moving up there to help with repairs that need to be made!” Then he filed a year and 1/2 later for D. Totally shocked I was. But the court dealt with his ass. He pays me now.

  • Terry

    Almost overnight after Obamacare was officially dropped on all of us, my company where I had worked for just a few months of 28 yrs., was “Forced” to begin a company wide layoff with many more that followed up to & including one just 1 month ago. Now there is noting left but a very very sad, devastating “shell” and handfull of hurting, worried dear friends of mine. Before I even had a chance to catch my breath & after so many Resume’s and Interviews that I can even count, I found that the severe weakness and ashen skin color and weight loss wasn’t due to exhaustion but that I had Stage IIIb to c Squamous Cell Carcinoma. (Cancer) in addition to my already Congestive Heart Failure and Severe Bleeding Ulcers that landed me in the Hospital for Many Blood Transfusing in the CCU that led to a finding of Hep. B & C. So, I had no choice but to finally go on Social Security Disability at the “Ripe old age of 59 1/2. From being a cross country runner & working pretty much non-stop from the age of 10, an Awesome ability to Enlist and Serve my country during the Vietnam era with every security clearance in the Battalion Headquarters Communication Center in Germany, as Unit Police Guard as well as working with the Chaplaincy in working with troops dealing with Alcohol and many other stresses and problems who wanted to get healthy & give their best with Honor, as well as even working multiple jobs to help other family members & care for my parents the last several years of their lives, to a point of having no remaining option left but Social Security Disability after spending the last that I had to not be a burden. However, as a Christian, I know I have weathered pretty much every storm and trial life and that even the Devil had to throw at me and I am still here & still fighting, be it 6 months or a few years, totally confident that my Trust & Ultimant “Hope and Faith” is still right where it has always been. In Christ alone. Also, I am “TOTALLY” convinced that God Himself has ordained Donald J. Trump & Mike Pence to become the new President & Vice President of this our again Very Blessed land of the Free who still choose & chose life along with out Vote for the Lives of our Unborn & to restore out stand for the Peace of Jerusalem & Israel and Honor them in “Their” Land & Nation of Israel as our #1 Ally in the Middle East & the World. Out of the Blue last night I turned from my nightly reading location in Leviticus, to the 23rd Chapter of Psalms to end my night with a sense of Peace. Then when I got to Psalms 25:3 I read, and received the Giant Period to God brought me there & the number one reason that there was no way He would allow Hillary & Kaine to win the Election. See if you don’t feel the same confirmation in your Heart &/or Spirit within; Psalms 25:3 “None who have Faith in God will ever be Disgraced for Trusting Him. But all who harm the innocent shall be Defeated”. If our innocent tender helpless babies are not the Truest most Innocent Victims, then I don’t know who is more innocent that them. Sorry for going so long, but just wanted to end by saying, God is Totally in Control, I “Know” the God is Working all things together for our Good as a result of our Nations Decision to Choose Life and I fully believe Trump is yet another Esther that God Chose to Raise up in our day for “Such a Time as This. God is Blessing America again! Praise to His Mighty Holy Name.

  • nanygoat

    This is what SS disability was designed for, those who need it, not for those who have been on it for generations without working. They have even borrowed from it for illegal aliens.

  • bpgagirl22VAnow

    Amen! You know you and I have a lot in common with each other. I’ve lived not quite as hard fought a life as you but I have PTSD and I’m not even in or was in the military but when the Judge got my “exam” and medical back, she was livid that SS had denied me 3 times and she made them pay me all my back pay! Mine is a loooooonnnnnggg story as well but trust me I KNOW what you’ve gone through. Thank you first of all for your valiant service, sacrifice and valor, my Father’s family has over 1,000 military veterans just since the Amer. Rev. War. (here’s the brief recap – [[[ RIP Daddy, Semper fi, Korea, Merchant Marines-age 16, Philippines, Okinawa; plus over 1,000 other of our family’s military Vets from our original 25 in the Amer. Rev. War. 2 on the Viet Nam wall; 2 who perished on the USS Arizona; many many decorated heroes and 6 of my direct Uncles who all served in WWII, Granddaddy P who fought the Germans in Germany in WWI, yes one, Daddy’s older brother 1Lt. U.S. Army, lost his best friend and over 1/2 his btn. at Normandy, Omaha and Italy. I had 6 Uncles total who served during WWII, we had 56 serve in that war, 14 served their entire tours in Europe. We had a 19 yr. old co-pilot who was shot down with his crew over Germany and imprisoned at the infamous Stalag Luft III prison camp – made famous by the movie “The Great Escape” and later they were liberated by the Russians in April 1946. We also had a few spies down through the ages. God bless them all for our freedoms. We have many decorated heroes and my mother’s cousin Gloria was a Supv. in the Rosey the Riveter program. We had 25 Plunketts who fought, suffered and some died in the Amer. Rev. War here in VA. We had over 160 from 9 states who fought, suffered and some died and some imprisoned during the un-Civil War. I was married to a Viet Nam Vet U.S. Army Photographer, top Sec. Crypto S.I. clearance 2 Generals down from the Pres. and I myself “heard the call” and served as best I could as a volunteer in the Civil Air Patrol, SouthSide Sqdn, ’77-’79. We thank all of them for our Freedoms! ]]] – that said you are also totally correct that God’s got this, trust me. When He brought his people out of Egypt, when He directed Abraham, when Daniel went into the lion’s den, the 3 were saved from the fire, then on down through history to Jesus’ coming, redeeming us all and dying for us, to present day, I was baptized when I was 8, walked with Him ever since, he’s directed me ever since and for Hillary Clinton to get up and say what she did “deplorables and irredeemables” REALLY?! FIRST OF ALL, JUST WHO THE HELL DOES SHE THINK SHE IS TO JUDGE US AND SECONDLY GOD DON’T LOVE UGLY AND THAT’S EXACTLY WHY SHE WAS VOTED AGAINST BECAUSE US DEPLORABLES SAW THROUGH HER LIES, HER LYING TO THE F.B.I., HER CORRUPT CRIMINAL CAREER FOR 40 + YEARS AND BENGHAZI AND LAST BUT NOT LEAST HER CALLING THEIR FAMILIES LIARS AND THEN SHE DIDN’T RECALL THOSE GOOD MEN DYING?????!!!!! SHE’s INSANE!

    SO YES, GOD’s GOT THIS – HE ANOINTED DONALD J. TRUMP TO NOW TAKE THE REINS WITH ALL OF HIS LIFE EXPERIENCE AND HE IS PURE IN HEART WITH ALL HIS MINOR FAUX PAS BUT YOU KNOW WHAT? AT LEAST HE DIDN’T LIE, KILL AND ABANDON LIKE SHE DID!

    GOD BLESS AMERICA AND PRESIDENT-ELECT DONALD J. TRUMP!

  • digriff

    Privatize social security??? Hmmmm…..where have I heard this before…..OH YEAH…from Bill and Hillary Clinton…I would probably go for privatization IF the government would give me all I paid in, even without interest, to invest in the new system. Hands down, I would be thrilled to get all my money back, because I sure as heck don’t trust the government with it.

  • Webeq

    Privatized social security is a giveaway to the banking interests. Nobody’s pension is secure if left to the vagaries of manipulated markets. How many people have lost their private pensions when companies went belly up? Social Security is not the problem. The problem is medical costs, which is the most out of control expense the government (and society) has. These Trump could fix by applying existing law, breaking up the monopolies. Force medical providers to publically post prices and force them to charge the same price to all customers. That would bring competition down to them and make an end to the rip offs. Drug sales should also be opened up to competetition. Nixing social security would take America out of the civilized world altogether. Social security is not bankrupt, the money (FICA) has been funding tax cuts to the rich since the early eighties.

  • Silverstake

    Buy some silver Eagles with your payout.

    You can thank me later.

  • Silverstake

    Don’t invest with bankers. Buy Silver Eagles and Silver mining stocks. Also look at Bitcoin for some currency exchange.

  • bpgagirl22VAnow

    I wish. Thanks to my hateful Ex I was forced to live on that while he made plans to divorce me 2 years ago. SOB’s having to pay me now, court got ahold of his ass.

  • Wanda Monk

    I can’t retire cause I could not live on Social Security. I’m way over Retirement age; Don’t understand taking ss away, for what we have worked for. I was married 27 years, divorced, did not pay any ss in, my ex gets it all. My ss check is small. I can’t believe I support Trump and then he takes ss out. What abut the elderly, are we supposed to just lay down and die?

  • Leroy Mosley

    The Anti Christ wants you to suffer if you’re not wealthy.

  • Barbara Ge

    Right on Terry! Faith, Hope, and Love is alive in you and through you. … less of you shows more of Christ !
    You can be proud of that !
    You can read the Bible about Cyrus also. An alleged prophecy recently is about Donald Trump comparing him to Cyrus. May God grant you the peace beyond understanding for your service to our Country, and to God Almighty ! God bless YOU!

  • William R. Krause

    How do you know Trump wants to put “IT” back where “IT” belongs?? Would the “Senate” and “Congress” allow that to happen?? Since “Senators” and “Congress-people” don’t pay into “IT” but are able to receive “IT” when “They” retire, MAYBE “They” wouldn’t be able to get “Their” sticky fingers on “IT”. Think about that,Please.

  • Philip Marsala

    WELL SAID, AND YOU ALSO HAVE THE KNOWLEDGE OF THE SOON COMING OF CHRIST, WHICH PROVIDES ADDED JOY WHILE LIVING WITHIN A WORLD OF SIN, SORROW, SICKNESS, AND EVENTUAL DEATH. YOU’RE CORRECT, TRUMP COULD NEVER HAVE WON THE PRESIDENCY, UNLESS GOD’S WIN WAS ACCOMPLISHED.