Social Security Crisis Looms After Election

The recent presidential election has brought Social Security into focus, with former President Donald Trump and Vice President Kamala Harris being the major contenders dealing with its looming funding crisis. Trump has pledged not to cut Social Security benefits or raise the retirement age, though his economic plans could exacerbate the program's financial shortfall by $2.3 trillion, according to the Committee for a Responsible Federal Budget. Both candidates have largely avoided addressing the impending funding cliff that could lead to a 21% reduction in benefits by 2034. Meanwhile, President Joe Biden's administration has reversed many of Trump's stricter rules on safety net programs, making them more generous but drawing criticism from Republicans over increased costs. Social Security remains a crucial issue for voters, with many expressing concerns over its future amid ongoing discussions about taxes and benefits.