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Trump Goes “Down Under” for Latest Privatization Ploy
After turning the page on his self-indulgent USA250 bonanza, marred by extreme heat and disappointing attendance, President Trump has once again set his sights on Americans’ earned retirement benefits. On Monday, he announced that his administration is “working on a plan” to create accounts for adults loosely inspired by Australia’s retirement savings system – and similar to the Trump accounts for children. Our president and CEO Max Richtman told MarketWatch today that Trump should be working on strengthening Social Security instead of “toying around” with federally-seeded private accounts. “We would advise President Trump to focus on Social Security - a program that has worked splendidly for more than 90 years to provide Americans with basic retirement security” - Max Richtman, President and CEO, NCPSSM
Social Security Is Heating up This Summer
Social Security is back in the headlines this summer, driven by both hopeful developments and urgent warnings. In the wake of the Trustees report in June, Senators Elizabeth Warren (D-MA) and Bernie Moreno (R-OH), announced a bipartisan proposal to adjust the Social Security payroll wage cap and stabilize the program’s revenue ahead of looming insolvency in the early 2030s. Moreno’s participation in a plan to increase Social Security revenue is particularly notable – and is the first of its kind from a Republican on Capitol Hill in recent memory. This is an encouraging signal that protecting Social Security benefits can bring people together across party lines. (Bipartisan majorities of Americans favor increasing revenue flowing into the system instead of reducing benefits, even if it means paying more in Social Security payroll taxes.) It also underscores something advocates have been saying for years: the best way to preserve Social Security is not by cutting it, but by demanding that the wealthiest Americans contribute their fair share.
Social Security is on the Ballot in 2026
we have launched a new voter education campaign called “Social Security on the Ballot.” Its message is simple but urgent: when Americans go to the polls this November, they’ll be choosing candidates who will shape the future of Social Security.
Social Security Commissioner’s Sketchy Sales Pitch to Congress
If Social Security Commissioner (and CEO of the IRS) Frank Bisignano brought anything with him from the corporate world, it is his ability to sell, sell, sell. At a June 10th hearing on Capitol Hill, the former Wall Street executive did his best to sell the fiction that EVERYTHING IS JUST GREAT at the Social Security Administration – despite massive understaffing, poor morale, and outright abuse of beneficiaries’ personal data. While House Ways and Means Committee Republicans responded to Bisignano’s testimony with complete credulity, Democrats and Social Security advocates would have appreciated -- pardon the pun -- a little more Frankness. And maybe even a smidge of humility.
Making Sense of the New Social Security Trustees Report
On Tuesday morning, The Social Security Administration (SSA) released its highly anticipated Trustees Report for 2026. The trustees project that the depletion date of the Old-Age and Survivors Insurance and Federal Disability Insurance (OASDI) trust fund surplus will hold firm at 2034, at which time the program still could play 83% of promised benefits. (Advocates and analysts expected the date to creep up one year to 2033.) Interestingly enough, the trustees report blames Trump administration policies for the acceleration of trust fund insolvency – pointing to the Big, Ugly Bill which decreased tax revenues flowing into Social Security... in addition to Trump’s anti-immigration campaign. (Less immigration means fewer workers paying into the system.)
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