Ahead of the Senate Finance Committee’s vote to advance Trump’s nominee to be Commissioner of the Social Security Administration (SSA), Sen. Bernie Sanders (I-Vt.), Ranking Member of the Senate Health, Education, Labor, and Pensions (HELP) Committee and Senate Finance Subcommittee on Social Security, Pensions, and Family Policy, today released new findings exposing the stark reality of Elon Musk’s plans to cut the SSA by up to 50 percent. These disastrous cuts are taking place at a time when Social Security’s staff is already at a 50-year low.
Under Musk’s policies, the number of people who will die waiting for benefits could more than double from nearly 30,000 in 2023 to up to 67,000. Average wait times for Social Security disability benefits will nearly double from an average of 236 days in February of 2025 to 412 days.
First, this post is about social security disability insurance, SSDI, not social security retirement benefits. The disability fund is paid into by current workers to pay the benefits of currently disabled people, which may or may not have worked previously. Someone born disabled receives benefits as an adult even if they’ve never contributed.
Second, your statement isn’t valid for SS retirement benefits either. Current SS taxes pay the benefits of current SS recipients. The taxes have never been saved to pay for future benefits. The more you pay in the more credits you receive for your future benefits, but nothing is actually saved on your behalf. If benefits are reduced, it’s not your saved money you’re being denied… it’s a promise being denied.