Trump administration weighs raising retirement age to prevent Social Security insolvency

“After months of denying it, the Trump Administration is finally admitting what we suspected all along. They are planning on raising the retirement age. For every year you raise the age, that is a 7 percent cut in benefits. As costs continue to rise, seniors living on fixed incomes are being hit the hardest. Five million seniors are currently living in poverty. If Trump and his loyalists push through this plan, millions more will be pushed below the poverty line.” Source: https://www.newsweek.com/social-security-retirement-age-could-rise-under-trump-2132310

“I think everything’s being considered, will be considered. Remember, most people told you and I Social Security wasn’t going to be around. And so the generations that are coming in will probably have a different set of rules than we had.” Source: https://www.foxbusiness.com/media/trump-administration-considers-raising-retirement-age-social-security-faces-insolvency