Trump Policies' Impact on Social Security COLA
President Trump's administration is facing scrutiny regarding potential impacts on Social Security benefits.
Concerns Over Inflation Data
A hiring freeze across federal agencies has hampered the Bureau of Labor Statistics (BLS) inflation tracking capabilities, raising questions about the accuracy of the 2026 cost-of-living adjustment (COLA).
BLS Commissioner Firing
The firing of BLS Commissioner Erika McEntarfer has also sparked concerns about the politicization of the agency, further eroding confidence in inflation data.
Potential Impact on Retirees
Although Trump pledged to protect Social Security, his policies could indirectly affect retirees' buying power if inflation data is inaccurate. The COLA, calculated using inflation data from July to September, may be skewed, leading to either an insufficient or excessive adjustment to benefits.
Advocacy Groups' Concerns
Advocacy groups like The Senior Citizens League have highlighted the erosion of Social Security's buying power due to inadequate COLAs since 2010, while studies suggest many retirees found recent COLAs insufficient.
