President-elect Donald Trump is set to take office on Jan. 20, and while many Americans are excited about the changes he may make in his second term, others remain anxious. One of the issues that many seniors will be keeping a close eye on over the next four years is Social Security,

President-elect Donald Trump's plans to protect Social Security benefits could give retirees more money in their pockets, but it could also deplete the program's funds more quickly over the long term.

Like most elected officials, Donald Trump recognizes that Social Security is vital to the financial well-being of our nation's retirees. But he's not oblivious to the fact that altering Social Security comes with potentially negative ramifications. While speaking at the Conservative Political Action Conference in March 2013, Trump said:

There are lots of talks about what could happen with Social Security -- especially now that President-elect Donald Trump has been elected into office. At 72, Alexander P. is watching all of them.

During his 2024 campaign, President-elect Donald Trump made a number of promises regarding America's Social Security program. Now that he will once again be sitting behind the desk of the Oval

In 1983, when Social Security's asset reserves were running dangerously low, Congress passed and then-President Ronald Reagan signed the Social Security Amendments of 1983 into law. In addition to gradually increasing the payroll tax on earned income, as well as the full retirement age, it introduced the now-hated taxation of benefits.