President Donald Trump may talk down the inflation hounding his second term, but senior advocacy groups say the numbers don’t lie — particularly when it comes to inflation-linked increases in Social Security payouts.
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“According to The Senior Citizens League, a nonpartisan senior advocacy group, Social Security’s 2027 (Cost-of-Living Adjustment) is projected to reach 3.6 percent.” Reports Nasdaq.com’s “Motley Fool” site. “If accurate, next year’s raise would tie for the sixth-largest percentage increase since 1992.”
Meanwhile, independent Social Security and Medicare policy analyst Mary Johnson expects monthly payouts to rise by 3.4 percent.
“Regardless of which independent estimate is closer, it would represent the sixth consecutive year in which COLAs have met or surpassed 2.5 percent. The last time that happened was 30 years ago (1988-1997),” reports Motley Fool. “Suffice it to say, the puzzle pieces are falling in place for an outsize Social Security raise in 2027 to account for well-above-average inflation.”
And it is absolutely Trump’s inflation, no matter how hard the president denies it. Two of the president’s policies are directly impact consumer prices and forcing Social Security payouts to increase in 2027: tariffs and war. The Iran war isn’t just an energy supply issue any longer, reports Motley Fool. Rerouted shipments, altered supply chains, and higher costs for petroleum-based products are all hitting the broader U.S. economy with higher expenses.
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This whacks particularly hard considering America’s leading retirement program was already in “quite a bit of trouble,” reports Nasdaq.
“According to the latest Social Security Board of Trustees Report, the program is staring down a long-term (75-year) unfunded obligation of $29.3 trillion, up more than $4 trillion from the previous year’s report,” said Motley Fool.
And this isn’t even the most pressing issue for Social Security or its more than 71 million traditional recipients. the Old-Age and Survivors Insurance trust fund (OASI), which pays monthly benefits to retired workers and survivors of deceased workers, is on track to exhaust its asset reserves by the fourth quarter of 2032.
This elevates the Social Security problem from a “their problem” to a “me problem” for retirees, who are now staring directly into the void with their kids. And all this, while Trump has earned between $1 billion and $2 billion off being in power in his second term, by far the worst profiteering ever committed by an American president. Trump also created a $1.8 billion slush fund for his supporters, and his children have used his foreign policy connections to make money on everything from Kazakhstan tungsten mines to an environmentally-protected island in Albania.
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Now Trump and his supporters also reportedly have designs on Social Security.
