So, let's return now to a story that's causing a lot of waves around Washington at the moment was Tre Secretary Scott Bessent who appeared yesterday at an event in DC. And he said that these socalled Trump accounts that Republicans created in their massive tax and spending bill are actually a quote backdoor for privatizing Social Security. As the New York Times reports, under the law, which President Trump signed on July 4th, American babies born through 2028 are eligible to receive $1,000 from the federal ...

I think we got a congressman in the house, right, Willie. We do. Richie Torres. Congressman Richie Torres is here representing the Bronx this morning.Well, I This is exciting to me. I will tell you why this is exciting to me. Congressman, I'm not good at this politics thing.All right. So, I'm going to play a clip and I'm going to have you respond to it and tell me what a what a good response to the to Treasury Secretary Scott Besson uh would be. He was at an event in Washington yesterday where he said the s ...

Within Donald Trump's big ugly bill is the creation of a new savings plan for children with the MAGA friendly name Trump Account. Yes, that name is baked into the law is what it is. Now, their overall idea isn't radically new. Similar ideas have been proposed by Democrats before, by Republicans before. And this new program functions functions essentially like individual retirement accounts with a few complicated rules. and they come with a $1,000 initial deposit from the federal government for children born ...

Within Donald Trump's big ugly bill is the creation of a new savings plan for children with the MAGA friendly name Trump Account. Yes, that name is baked into the law is what it is. Now, their overall idea isn't radically new.Similar ideas have been proposed by Democrats before, by Republicans before. And this new program functions functions essentially like individual retirement accounts with a few complicated rules. and they come with a $1,000 initial deposit from the federal government for children born ...

Treasury Secretary Scott Bessent comes under fire for remark about so-called Trump accounts being a “backdoor for privatizing Social Security https://t.co/wdbaLuxDEp ...

Here are answers to 10 frequently asked Social Security questions, including when to file, how much recipients receive, and whether the program is in trouble. https://t.co/lSaV6FPwuX ...

Only 36% of Americans say they have confidence in Social Security’s future, according to a new survey by AARP. https://t.co/ePEeEU71NG ...

Morning everyone. Honored to be joined today by Whip Katherine Clark and caucus chair Pete Aguilar as we prepare to depart for the August district work period. The Trump administration and House Republicans have been a complete and total failure.These MAGA extremists promised that they were going to lower costs in the United States of America. In fact, they promised the American people that costs would go down on day one. But costs haven't gone down.They are on the way up. Inflation is up. It's the quality ...

As benefits are cut and Social Security approaches possible insolvency, retirees are being asked to work longer and accept fewer benefits. Is this inevitable, or is an alternative outcome possible? On this episode of Decoding Retirement, host Robert "Bob" Powell speaks with Teresa Ghilarducci, professor of Economics at The New School, about challenging the conventional assumptions around retirement. Teresa discusses the 'retirement gap,' how retirees can speak out against cuts, and how guaranteed retirement ...

Social Security Concerns - Social Security's retirement fund could be depleted in approximately 8 years, potentially leading to a benefit cut of about 23% [1] - The depletion date for the Old-Age and Survivors Insurance (OASI) fund has moved forward by about 6 months due to the Social Security Fairness Act, and another 3 months due to lower fertility rates and worker-to-retiree ratio [7][8][12] - A couple retiring in the year of insolvency could face a $16,500 reduction in their annual benefits [13] - For a single person with a primary insurance amount (PIA) of $3,500 claiming at age 70, benefits could drop by $12,000 annually after the potential cut [15] - For a couple where one spouse has a PIA of $3,500 and the other $2,500, claiming at 70, their combined benefits could drop by $20,000 annually [15][16] Medicare Challenges - The Hospital Insurance (HI) trust fund (Medicare Part A) is projected to be depleted by 2033, three years earlier than the previous projection [5] - Medicare Part B premiums are expected to continue rising, with an example projection using a 6% annual increase [40][41] - Changes in Part D (prescription drug coverage) are causing significant price increases for consumers, with some monthly charges jumping from $3.30 to $35.90 [43][44] Healthcare Coverage Issues - Potential Medicaid cuts and changes to the Affordable Care Act (ACA) could result in approximately 8 million people losing Medicaid coverage and another 8 million losing ACA coverage [1][46] - Proposed changes to ACA enrollment involve stricter requirements and shorter enrollment windows, potentially leading to people losing coverage inadvertently [50][51]