Social Security is a retirement plan that covers almost every American worker.
It provides a portion of your pre-retirement income, based on the earnings you accumulated throughout your life.
Recently, the topic of funding for entitlement programs such as Social Security was brought up again in a national conversation after former President Donald Trump made comments on a Monday cable news show.
“There is a lot you can do in terms of entitlements, in terms of cutting, and also in terms of theft and bad management of entitlements,” said Trump.
President Joe Biden discussed the matter during last week’s State of the Union address.
”Many of my Republican friends want to put Social Security and Medicare back on the chopping block. Again, if anyone tries to cut Social Security and Medicare or raise the retirement age again, I will stop them,’ the president said.’
Meanwhile, former President Trump fired back on Truth Social, saying, “Republicans have no plans to cut Social Security.”
Wendy Boszak, Vice President of the Nevada Alliance for Retired Americans and a National Alliance for Retired Americans board member, warns that senior citizens should be apprehensive of a second Trump presidency.
“All seniors should be concerned because many seniors right now are struggling on their Social Security, because they didn’t have careers or jobs where they could save enough,” explained Nevada Alliance for Retired Americans Vice President Wendy Boszak.
With the discussion back in the headlines, we went to the Washoe County Senior Center to ask seniors about their experience with Social Security, and how potential cuts could impact their life.
Retired veteran Nate Nepez is in a better condition than many residents who use the Senior Center as he works part-time at Greater Nevada Field.
“It would hurt more people than me probably because, like I said, I’m not relying on Social Security alone. As I said, I have my retirement pay and a part-time job, but if Social Security was the only thing I relied on, then yeah, it would really hurt me,” said Nate Nepez, a Veteran and part-time worker at Ace’s Stadium.
Dale Olson is not so fortunate.
“It’s pretty hard to live on Social Security. I know if you’re married, I’m not married. Married couples seem to get by pretty well,” said Reno senior citizen Dale Olson. “I’m living on nickels and dimes right now and worried about running out of gas.”
Disabled senior Victor Fallis says Social Security is not keeping up with inflation.
“If everything else is going up hundreds of dollars, we’re already having a tough time right now,” said disabled retired senior Victoria Fallis.
On Monday, President Biden requested $15.4 billion for Social Security in the annual 2025 budget. This equates to a $1.3 billion or 8.09 percent increase in Social Security funding from the last fiscal year.