Social Security reform, cost-of-living adjustments, anti-poverty programs
Trump’s BLS pick EJ Antoni has said that Social Security, America’s greatest anti-poverty program, is a “Ponzi scheme” that needs to be sunset.
Reminder that BLS data is what determines annual cost-of-living adjustments for Social Security benefits.
This is a five-alarm fire.
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— Robert Reich (@RBReich) August 13, 2025
Trump’s BLS pick EJ Antoni has said that Social Security, America’s greatest anti-poverty program, is a “Ponzi scheme” that needs to be sunset.
EJ Antoni’s controversial statement has sparked a heated discussion regarding the future of Social Security. As one of the most critical components of America’s welfare system, Social Security provides essential financial support to millions of Americans, especially the elderly and disabled. Labeling it a “Ponzi scheme” raises serious concerns about its sustainability and the potential impacts on beneficiaries.
The assertion that this program should be “sunset” is particularly alarming. Social Security plays a vital role in reducing poverty rates among seniors. In fact, research shows that without Social Security, nearly half of older adults would live in poverty. The program is deeply integrated into the fabric of American life, and any threats to its stability can send shockwaves through many households.
Reminder that BLS data is what determines annual cost-of-living adjustments for Social Security benefits.
Understanding how the Bureau of Labor Statistics (BLS) data influences Social Security is crucial. Each year, the BLS assesses inflation, which directly affects cost-of-living adjustments (COLAs) for Social Security benefits. If the BLS adopts a more restrictive interpretation of economic data, it could lead to smaller adjustments, ultimately undermining the financial security of millions who rely on these benefits to meet their basic needs.
This is a five-alarm fire.
The implications of these statements and potential policy changes should not be taken lightly. If Social Security is compromised, it could lead to increased poverty rates and financial instability for many Americans. It’s essential to engage in this conversation, advocate for the protection of Social Security, and ensure that it remains a robust safety net for all.