Trump, Social Security and the future of retirement in America
Description
For years experts have warned about a looming crisis facing the Social Security system. According to current estimates, the program will become insolvent by 2034, at which time benefits would be automatically cut.
During the campaign, President-elect Trump positioned himself as an advocate of the program, which remains highly popular among voters. But economist Teresa Ghilarducci says that if you dig into his proposals, a different picture emerges.
A recent analysis shows his policies would move up the date of insolvency from 11 years to 9 years. “It’s kind of a shocker,” she says. “He’s very bold in his policies.”
Teresa Ghilarducci is a professor of economics at The New School and author of the new book "Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy.” She joins Diane to explain the urgency of addressing Social Security’s finances and why Trump’s proposals would make the situation worse.
United States
