Trump's flagship tax and spending law is expected to have a material (and adverse) impact on America's leading retirement program.

Confidence in Social Security has also waned in recent years. A survey conducted by the nonpartisan organization AARP, which advocates for older Americans, found that confidence in the future of the Social Security system had declined from 43 percent in 2020 to 36 percent in 2025.

Later, President Trump talked about purging the system of Social Security accounts supposedly aged over 120 years, or even over 160. But this issue has already been beaten to death. Technologies have explained this is a software issue. There’s no reason to think it has much, if any, financial impact.