Social Security Payments Could Be Cut For Millions Of New Yorkers

A former Social Security boss says the system may collapse very soon. Approximately 3,764,852 New York residents receive Social Security benefits, but that may stop very soon. A Social Security expert has issued a warning that things may go very wrong soon, resulting in those who rely on benefits having to go without. There is already a full assault on programs that help those in need.

The federal government is slashing all lifelines for the poor and working families struggling to make ends meet. As prices skyrocket for basic necessities, Elon Musk's threat to Social Security is becoming a reality. Meemaw and Pawpaw may soon find themselves in a terrible situation, thanks to drastic changes made by the federal government.

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The economy is tanking (don't believe me, check your 401K's value compared to the same time last year), prices are going up, and Social Security may collapse. The former head of the Social Security Administration, Martin O’Malley, predicts that the program may collapse. The program, which millions of New Yorkers rely upon, has been in effect for almost 90 years. According to Wikipedia,

"The Social Security Act created a Social Security Board (SSB), to oversee the administration of the new program. It was created as part of President Franklin D. Roosevelt's New Deal with the signing of the Social Security Act of 1935 on August 14, 1935."

O’Malley says the system will collapse due to the deep cuts made by Elon Musk‘s Department of Government Efficiency agency to the federal government. Musk has previously stated loudly and proudly that he is not a fan of Social Security (I guess if you're the richest man in the world, you have that luxury). Musk recently said that Social Security is the biggest Ponzi Scheme. It also sounds like he is upset that Americans are living longer and not dying early to balance out SSI.

Photo by Philippe Leone on Unsplash

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The Republican controlled government and the Trump regime don't seem to have any interest in making sure Social Security survives. O'Malley predicts the system will implode within the next 30 to 90 days. He said, “Ultimately, you’re going to see the system collapse and an interruption of benefits. People should start saving now.”

Unfortunately, for those who rely on Social Security benefits, 30 to 90 days is nowhere close to enough time to begin saving. I fear, if his prediction is correct, that many people who rely on those benefits may not be able to survive. It's hard enough for working people to afford basic necessities. The maximum social security payout is $5,108 ($61,296 per year) for those who work until they are age 70 and retire in 2025. A portion of a recipient's benefits may be subject to income tax, per the IRS.

O’Malley says DOGE’s firing of federal employees will likely lead to technical failures and office closures that will cripple the Social Security system. As MAGA supporters continue to celebrate the destruction of programs that benefit children, as well as poor and elderly Americans, hopefully, New York State will be able to step in and pick up some of the slack for the most vulnerable among us.

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