Social Security Made a Big Change in July Due to President Trump's Agenda. Another Big Change Is Coming in September.

President Trump wants to eliminate fraud, waste, and abuse from entitlement programs like Social Security. Some issues he has highlighted have no basis in fact -- Trump has falsely claimed millions of individuals over 100 years old get Social Security benefits simply because they have not been marked deceased in the database -- but his goal undoubtedly has merit.Social Security accounts for 22% of government spending, and the program is projected to run a $3.3 trillion deficit over the next 10 years. The Social Security Trust Fund (the account that pays beneficiaries) is likely to be depleted during that period, at which point benefits will be cut automatically unless Congress solves the funding problem.The Trump administration has made several changes to Social Security. None will dent the 10-year deficit, but two could negatively impact (or at least surprise) retirees. The Social Security Administration (SSA) increased its overpayment collection rate in July, and it will stop issuing paper checks to beneficiaries in September.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool