The consolation prize retirees received from the One Big Beautiful Bill is arguably a bigger win than ending the tax on benefits.

Rising inflation from new tariffs may lift next year’s COLA, but the net effect on retirees’ wallets could still be negative.

If Trump deports at least 10% of undocumented immigrants a year, Social Security funds are expected to be depleted six months earlier.

Key PointsThe Social Security Administration has worked with the Department of Government Efficiency to improve productivity and eliminate unnecessary costs.Social Security changes implemented to date under the Trump administration focus on prudent spending,

Social Security cuts hit poor and elderly hardest and thousands of Americans will lose half of their living income.