A Note on Political Neutrality

As a financial advisor, I want to make it clear that I take a nonpartisan, politically neutral stance in all guidance I provide. My priority is to offer clients objective, fact-based insight rooted in law, policy, and long-term financial strategy — not in partisan ideology or political speculation.

This article is meant to answer client concerns, particularly those arising under the current administration, with clarity and accuracy.

Who Can Cut Social Security Benefits (And Who Can’t)

Social Security is governed by the Social Security Act of 1935. Because it is federal law, only the United States Congress has the authority to change or cut Social Security benefits. That includes:

• Adjusting benefit formulas
• Changing the full retirement age
• Raising or lowering payroll tax contributions

 Who Can Cut Social Security Benefits:

Congress

Through legislative action, passed by both chambers and signed by the President (or overridden with a two-thirds vote).

Who Cannot Cut Social Security Benefits

The President

The President of the United States cannot unilaterally change Social Security benefits, though they can propose legislation and influence policy.

The Social Security Administration (SSA)

The Social Security Administration can only implement the law as written by Congress.

Federal Agencies

Without legislative changes, no federal agency has the authority to change Social Security benefits.

The Trump Administration’s Position on Social Security

Amid a broader push for government efficiency and spending cuts, there has been heightened concern among our clients and the broader public about the future of Social Security under President Trump and the Director of Government Efficiency (DOGE), Elon Musk.

Public Statements Supporting Social Security

President Trump has publicly committed to protecting Social Security benefits. A White House fact sheet released in March 2025 affirms that “President Trump will always protect Social Security, Medicare, and Medicaid.”

No legislation has been proposed by the administration that would cut current retiree benefits.

Concerns About Administrative Reforms

While benefits remain untouched, some administrative actions have raised concern about the future of Social Security:

• The DOGE office has announced a reduction of over 7,000 SSA employees, along with closures of field offices, with the aim of improving efficiency.
• Critics argue these cuts could slow service, increase wait times, and reduce accessibility for beneficiaries — especially vulnerable or rural populations.
• Elon Musk, who leads DOGE, referred to Social Security as “the biggest Ponzi scheme of all time,” sparking public alarm. However, no official policy reflects that characterization.

My take

While there are operational changes underway, the Trump administration has not proposed or passed any cuts to benefits. The core of Social Security — benefit amounts and eligibility — remains intact.

The Client Concerns We’re Hearing

Even without direct policy changes, several factors are contributing to heightened anxiety among retirees and pre-retirees:

1. Aggressive spending cuts across government agencies
2. Rhetoric around “entitlement reform” or “fiscal responsibility”
3. Headlines about the Social Security Trust Fund’s solvency
4. Concerns about generational sustainability of benefits
5. The polarizing nature of today’s political discourse

These concerns are real and valid — but it’s critical to distinguish fear from fact.

Reasons Why Social Security Benefits Will Not Be Cut

There are multiple structural reasons to believe that Social Security benefits will remain protected, particularly for current and near-term retirees:

The Government’s Longstanding Practice of Protecting Vulnerable Retirees

Historically, the federal government has avoided cuts that would impoverish retirees and increase dependence on state or local welfare programs.

Cutting Social Security Would Be Political Suicide

Social Security is wildly popular across the political spectrum. Any attempt to cut it is politically dangerous for any elected official or political party — especially with older voters being the most reliable voting bloc.

AARP’s Influence

With over 38 million members, AARP represents the largest and most organized body of older Americans. The group actively lobbies to protect benefits, and lawmakers take their stance seriously.

Following Precedent: Only Gradual, Future-Oriented Changes

In past reforms, changes were phased in over decades (e.g., raising the retirement age to 67 in 1983) — never cutting existing benefits for those already relying on them.

Social Security Is Self-Funded

The program is financed through dedicated payroll taxes, not general revenue. This makes it structurally separate from most budget-cutting discussions and less vulnerable to the sorts of across-the-board cuts we’re seeing today.

There’s Currently No Legislative Support for Cuts

There is no current legislation with bipartisan support aimed at cutting Social Security benefits. Discussions focus more on ensuring long-term solvency through:

• Raising the payroll tax cap
• Modest retirement age adjustments for future retirees
• Changes to how cost-of-living adjustments (COLA) are calculated

It’s Normal to Worry, But You’re Not Alone

It is natural to feel uncertain in times of political and economic volatility. However, current facts suggest that your Social Security benefits are secure — both by legal protections and by strong political, structural, and public support.

As your financial advisor, I remain committed to tracking developments, interpreting them without political bias, and helping you plan with clarity and confidence.