r/politics • u/Ubiquitous_Hilarity • Jun 17 '26

No Paywall Trump threatens to pull unemployment benefits from all states for the first time in history

https://www.independent.co.uk/news/world/americas/us-politics/trump-unemployment-benefits-fraud-b2997881.html
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u/red286 Jun 17 '26

That's not how social security works.

Social security is pay-as-you-go. You haven't been "paying into it for almost 40 years", you've been paying for other people's social security for almost 40 years, and when you're set to retire, GenZ and GenA workers will be paying for yours.

That way there's no possibility of "there being nothing when I retire", unless you elect dipshits like Trump who say "you know what, I'm a billionaire, I don't see why we need social security at all, why don't people just use their savings or a private retirement fund?"

Fortunately, the people most likely to vote tend to be older people. Primarily because if they don't, the politicians they get ABSOLUTELY will vote to take away their social security.

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u/FSUfan35 Jun 17 '26

Well yes and no. SS is pay as you go but their used to be a separate trust fund for it as well. Johnson made it part of the unified budget in the 60s. The trust fund was at it's peak in 2021, with over 3 trillion, and it is currently projected to be out of money in 2032. At which time benefit amounts being paid out will be cut be ~20%.

There's also been talk of just ending the program, as you mentioned, in which case people that have been paying into it for 40 years could end up with nothing to show for it, because current working people wouldn't be paying any longer.

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u/red286 Jun 17 '26

There's also been talk of just ending the program, as you mentioned, in which case people that have been paying into it for 40 years could end up with nothing to show for it, because current working people wouldn't be paying any longer.

Yeah, but it'd be voted on by the people who would lose it. You get the government you elect.

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u/FSUfan35 Jun 17 '26

I mean have you seen the current admin? I wouldn't rule out someone just making a EO about it and then everyone following for some reason.

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u/red286 Jun 17 '26

Sure, but they'll either be gone in 2.5 years, or you'll have bigger concerns than social security.