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Trump vs Biden: Who Is Better for Social Security?

Biden says Trump will bankrupt Social Security within three years. Trump claims Biden tried to cut Social Security for decades. Here's who's closer to the truth.

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Stacy Johnson • October 17, 2020

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Money with Stacy Johnson
Aaron Freeman / Money Talks News

“Never doubt that a small group of thoughtful, committed citizens can change the world: Indeed, it’s the only thing that ever has.”
– Margaret Mead

In a few short weeks, we’ll be voting for president, in what will be one of the most divisive contests the country has ever seen.

If you’re someone who votes their pocketbook, especially if you’re an older American, you’re likely wondering whether President Donald Trump or former Vice President Joe Biden would be the better choice to protect Social Security.

Trump is running an ad claiming Biden “tried to cut Social Security and Medicare for decades.”

Biden released an ad saying, “If Trump gets his way, Social Security benefits will run out in just three years from now.“

Which, if either, of these statements is closer to the truth? In this week’s “Money” podcast, we’re going to find out with the help of Social Security expert Jeff Miller. As usual, my co-host will be financial journalist Miranda Marquit.

Sit back, relax and listen to this week’s “Money” podcast!

Subscribe: Apple Podcasts | Google Podcasts | Spotify | Amazon Music | RadioPublic | Stitcher | RSS

Want more information? Check out these resources:

  • Social Security Choices (Jeff’s company — use code “moneytalks” for a $10 discount on a personalized analysis of claiming strategies)
  • The Only Retirement Guide You’ll Ever Need (our course — with a free Social Security chapter)
  • “5 Ways Joe Biden Wants Social Security to Change“
  • “9 Social Security Terms Everyone Should Know“
  • “5 Simple Steps to an Awesome Retirement“
Confused senior shrugging
See Also:
3 Big Misconceptions About Social Security

Not familiar with podcasts?

A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online.

They’re totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you’re like me, when riding your bike.

You can listen to our latest podcasts here or download them to your phone from any number of places, including Apple, Spotify, RadioPublic, Stitcher and RSS.

If you haven’t listened to a podcast yet, give it a try, then subscribe to ours. You’ll be glad you did!

About me

I founded Money Talks News in 1991. I’m a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

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