Baby Boomers, who experienced pronounced prosperity during their formative years, are now vulnerable to increasing economic threats stemming from recent policy changes. They previously enjoyed affordable education, stable jobs, and advancements in healthcare. However, the Trump administration's actions have raised concerns about the stability of their 401(k) assets, long-term care, and Social Security benefits. With cuts to Social Security staff and agency functions, there is a fear that the support system for older Americans may falter, placing this generation in an unprecedented challenging position as they age.
"If you're in your 60s or 70s, what the Trump administration has done means more insecurity for your assets in your 401(k), more insecurity about sources of long-term care, and, for the first time, insecurity about your Social Security benefits."
"I am fully committed to upholding President Trump's promise to protect and strengthen Social Security. Beneficiaries can be confident that their benefits are secure."
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