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The anti-fraud task force being led by Vice President JD Vance may balance the budget and could help save Social Security, President Donald Trump said during Wednesday’s Cabinet meeting at the White House.
“I think we have a chance to save Social Security without doing anything to it,” Trump said. “We’re going to make our Social Security so strong.”
Trump stated Vance had uncovered enough fraud that it may be able to fund the program. This comes as the federal government has warned that Social Security could be depleted by the 2030s.
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“The numbers that we’re finding out — we have great people in Social Security. We’re going to make our Social Security so strong, so good, that you’ve never seen anything like it,” Trump said. “We’re going to protect, I said right from the beginning, we’re going to protect our people in Social Security.”
Trump reiterated that he wants to protect the crucial entitlement program, while Vance credited Trump for the task force’s success.
“The fact that we have dedicated presidential leadership is really what’s made this possible, because it does require — we’ve got great people around the table — but sometimes these agencies don’t know how to work together at the lower level, and that’s one of the things we’ve had to turn on and force with the fraud task force,” Vance said.
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According to the most recent estimates, Social Security is projected to become insolvent in 2032, which could trigger automatic benefit cuts. The program is primarily funded by payroll taxes on current workers and their employers.
During Wednesday’s meeting, Trump said the task force has already identified “billions and billions and billions” worth of fraud, noting that if the initiative “does really great, we’ll have a balanced budget without having to do anything.”
“Everybody was getting rich, and I think we have a chance to save Social Security without doing anything to it,” Trump said. “Just the numbers of fraudulent people on Social Security — people that are 115 years old, 125 years old, getting payments. It’s funny.”
Vance was named to head the anti-fraud effort in March. The Trump administration has stated that the initiative was launched as some states have failed to combat entitlement fraud that has benefited illegal immigrants.
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