Former Commissioner of Social Security Administration: "People should start saving now"

[New Breed Leader]

Link to tweet

Link to tweet

[dhol82]

1. Yup, republican health plan

Get sick and die. They’ve been working on this for a while.

[MagickMuffin]

8. It is their Concept of a plan

And that is the plan. Let us all get sick and die. More for them, amirite!

[leftstreet]

2. Save fucking what? Money from $7.50 an hr federal wage? Jesus n/t

[W_HAMILTON]

9. Read more than just the headline.

He is referring to those already receiving Social Security benefits.

He is predicting that the Social Security payment system will collapse and there will be an interruption in benefits due to the fuck-ups of this administration.

[leftstreet]

12. Oh, save money from their huge monthly SS checks? Pfft

[W_HAMILTON]

13. It's not a "let them eat cake" comment -- it's him warning what he thinks is coming and to be prepared.

[leftstreet]

17. It's tone deaf in the extreme n/t

[Mariana]

83. What do you think he should have said?

[leftstreet]

84. He should approach Congress

if he's rrreeeeeaally so "concerned"

[yardwork]

91. He's not in charge anymore!

He's putting out a warning. It's not an official statement. It's a warning from a private citizen.

[Cirsium]

27. Of course it is

That is exactly what it is.

People did start saving, a long, long time ago by paying into Social Security.

[leftstreet]

34. This

[W_HAMILTON]

89. Of course it is NOT.

He's saying that Trump's clown circus is going to fuck up our Social Security payment system so bad that payments will stop going out at some point soon.

Would you prefer he have said nothing and then people get surprised when their Social Security check doesn't get deposited as expected and they have nowhere else to turn? What do you think he is supposed to do? He's a private citizen now, just like you. What the fuck else is he supposed to do? If he can do it, so can you, given that you two have the exact same power when it comes to this administration and our federal government, so hop to it!

[Cirsium]

90. Not what?

Not sure what your objection is. Did you reply to the right person?

[Magoo48]

41. Good advice. We may have to tighten our belts a bit while we fight these fuckers.

[kerry-is-my-prez]

80. How can us retired seniors "save" non- existent money if we have no SS checks coming in?

I really am no longer capable of working.

[Cirsium]

24. Where?

Where can we read more than just the headline?

People who are dependent upon Social Security to survive don't have any possible way to "start saving now."

[kacekwl]

56. Going to be a lot of unhappy

Landlords and utility companies who won't be paid. Also a lot of hungry people who are missing medication. A lot of UNHAPPY PEOPLE, ANGRY UNHAPPY PEOPLE. And musk wonders why he might be assassinated .

[CountAllVotes]

28. The first job I ever had was a temp. full-time Federal job

It paid a whopping $2.88 an hour.

Save? Huh?

Not possible!

[3Hotdogs]

32. My plan is simple: The day after my SS deposit doesn't deposit, I will file

bankruptcy and eliminate the $34k I owe to the banks -- G.S., BoA and Chase.

Fuck 'em.

[Bengus81]

53. Sounds like a plan to me. I owe about 10% of that amount but they won't

get paid. Banks are fearing the worst on this like we are. Any major disruptions,cuts or anything to SS could be an extinction level event.

[Rebl2]

3. Going

to be a lot of angry maga’s and democrats as well. Fuck musk!

[dweller]

4. WTF ?

Ppl should start saving now ?

I’ve saved for over 50+ years … by my contributions to SS !
That savings is MINE to collect now .

I literally frighten myself imagining the retribution to these fuckers if/when they shut down SS …
🤬




✌🏻

[hlthe2b]

16. I hope you didn't read the poster I just replied to's dismissive comment downstream. OMG...

[The Madcap]

5. It's going to be Mad Max out there

if they try this...just saying.

[ReRe]

58. Words right out of my mind!

That vision has been racing through my mind since election day.

[bucolic_frolic]

6. After they steal everything the government owns, and our SS, IRAs, pensions, bank accounts

and any equity we have, they won't have much use for us. Think that one through.

[hlthe2b]

7. What percentage of Americans COULD actually do THAT?

Savings is (and has been) at an all-time low... Maybe we should tell all those elderly cancer patients, end-stage heart disease patients, the paralyzed or otherwise disabled or those with dementia to just "get off their fat asses" (as the projecting US pResident likes to say) and go beg for their dinner?

How is this being ALLOWED to happen? How?

[Johnny2X2X]

10. Actually not true

Savings is not at an all time low.

Hit all time highs during Covid followed by an all time low in 2022, but are well above the all time lows right now.

https://fred.stlouisfed.org/series/PSAVERT

And Americans' net worth hit an all time high in December of 2024 thanks to Biden's economy.
https://www.marketplace.org/2024/12/16/thanks-to-stocks-and-real-estate-household-wealth-is-higher-than-ever/

Time to cut expenses and save. Too much uncertainty in the economy, everyone should be doing their best to cut bills, rforgo major expenses, and get as big of an emergency fund into your savings account as possible. I'm looking to have a years worth of expenses in my savings within 9 months.

[hlthe2b]

15. Well aren't you just being GD callous and dismissive to the millions of Americans WHO CANNOT do so.

I'm proud to CARE about my fellow Americans and not just the well-to-do. Do YOU? I note you CHOSE to ignore my comments about those who are infirmed and could NOT simply just go back to work and save--not mention all those losing their jobs at the hands of MUSK or those earning MINIMUM WAGE!!!!

I cannot believe your response, Johnny2x2x. I really CAN NOT!

[Johnny2X2X]

18. Posting misinformation doesn't help anyone

We're coming out of the best economy in generations, thinks aren't as dire for most people.

The fact Musk is trying to steal social security is abhorant, but is not helped one bit by mischaracterizing basic facts about our current economy.

[hlthe2b]

20. Adress the FACTS, Johnny2x2x. Not your comfy personal situation.

Americans' savings went to Social Security. That is THEIR money. Callous disregard and defense of Trump/Musk's ongoing theft of our fellow American's Social Safety Net is unconscionable here.

Shame on you!

[Johnny2X2X]

26. I literally addressed the facts

You posted an untruth and I corrected it with cited facts.

You're claiming I have callous disregard and am defending Trump/Musk, also totally made up. You seem to have trouble with the truth.

I am defending the Biden economy, which by most metrics was the best one for the middle class in 50+ years. The middle/working class did not see the gains they made under Joe Biden since the 1960s. My entire life people would say, "the rich get richer and the poor get poorer, and that's the wayn it will awlays be." Joe Biden actually reversed that, the bottom 25% saw more real wage growth than the top 10%. The bottom 50% saw more net worth growth than the top 1%.

Regardless, it's time for most Americans to do their best to pinch pennies, it certainly looks like the economy is about to tank at the hands of Musk and Trump.

[Bengus81]

54. Glad your bank accout is stuffed,but that is NOT the reality for most of the 71M on SS

[llmart]

65. "thinks (sic) aren't as dire for most people."

I'm curious as to how you quantify "most people"? Do you know what demographic is on Social Security? IT'S OLD PEOPLE! Baby boomers - the largest contingent of any generation. Yes, those younger people who had jobs were probably doing quite well (and by "younger" I mean younger than me who is 76) during Biden's administration.

I'm female and like most women of my generation, we stayed home when our children were younger, but when we did get jobs they were always low paying jobs. Do you have any idea what women my age get from Social Security? Most of us are not getting the average $1800 a month which by itself is not enough to live on. Most of us had to take our Social Security early in order to get by. I live in a senior community and the women talk openly about what they get each month. Most of them get about $1200.

You truly are out of touch with real life situations.

[usedtobedemgurl]

73. Don't be so hard on the guy....

He just thinks that the plethora of federal workers who just lost their jobs should be able to sock some of their money away! I know any time I have been unemployed (covid), that is when I did most of my saving! Doesn't everyone sock away more money during inflation and job loss?

[questionseverything]

67. As the article tells us, it was the best economy for the upper 10% who own 92% of the equity

Your attitude is a perfect example of why we lost, the upper 10% forgetting the bottom 90% exist

[Orrex]

62. Is that personal savings per individual or aggregated personal savings across the economy?

If those numbers are actual savings per individual, then I'm not equipped to contradict them, except to say that very few people I know in the workforce are sitting on a fat savings account, with many of them living check to check.

Literally every time I've ever seen or heard that it's "time to cut expenses and save," it's come from a person who has that option, almost always with a scolding undertone for those who aren't in a position to do so.

[erronis]

35. Most of the people commenting are using personal anecdotes and Fed averages for savings.

I totally agree with you. There are literally millions of Americans who are living SSI/SSDI month to month. These people (including me) are getting roughly $500-$2000 per month. I'd challenge every one of those that responded to your post if they could live on that.

They can conveniently use "averages" in total benefits to mask the fact that there is a huge statistical tail of people that are dying at the left of that tail.

[BeyondGeography]

11. Thanks for the heads-up but saving what?

One-third of recipients are fully dependent on SS for living expenses and the vast majority of those who hustle for more income are not exactly banking the check every month for a rainy day.

[PoindexterOglethorpe]

14. Social Security was NEVER intended to be

a person's only retirement income. You were supposed to save, and perhaps have a pension, these days a 401k or its equivalent.

And for each and every one of you who claims it is utterly impossible to save anything at all on your income, keep in mind that there are plenty of those making a couple of thousand dollars a year less than you make, and somehow get along.

[Johnny2X2X]

19. 3 legged stool

It was supposed to be pension, social security, individual investments like a 401K. Republicans took pensions away, and now they're going after Social Security. I don't know who can stop them.

[SWBTATTReg]

61. And they are trying to do away w/ 401s too! I read that somewhere, so where are we supposed to save, if

401s are not available, Pensions are being offered less and less by companies, and SS is being brandied about by muskrat who is uttering false claims about SS and its' supposed fraud found within a few minutes by muskrat's doge team (which I totally do not believe, SS itself has been pretty effective in blocking out fraud, ID'ing theft of SS funds being falsely claimed and making them repay the stolen funds (and probably jail terms, probation).

They say the SS program is one of the better run ones too, so don't let muskrat snowball us into supposedly revamping SS for incorrect reasons. The only reason I can see them doing this (muskrat and / or others) is to steal our SS money, by claiming that maybe some millions or hundreds of thousands of people are getting SS incorrectly so they stop those payments and/or reroute them to muskrat-controlled/tRUMP-controlled bank accounts, in short, stealing our money.

[SamuelTheThird]

71. uNiOnS dEsTroyEd pEnSionS!

Just stop.

[hlthe2b]

21. Of course. All those minimum wage employees or those who constantly faced corporate layoffs

were just irresponsible" to not have saved the thousands of $$ that you did. Why didn't the minimum wage workers that served YOU have a 401K?



Good gawd the lack of understanding and compassion here for our fellow Americans is beyond disgusting.

[BannonsLiver]

52. Shooting the messenger doesn't help.

[PoindexterOglethorpe]

66. I guess I shouldn't resent someone who made as much

money as I did, but spent it all, carries credit card debt, and now wants food stamps to afford to eat?

Here's the thing about saving a little money: Unless you literally have zero money left after paying rent and groceries, you can probably cut back somewhere. I have been poor enough at several times in my life that I've gone hungry. So I do know what it's like. And again, I know that the vast majority can save something.

[SamuelTheThird]

72. Of all the targets ripe for 'resentment'

You choose someone applying for food stamps.

Delusional.

[dsc]

22. Remember a non trivial part of SS is disability

and you are actually not permitted to save lots of money under that.

[wanderer54]

40. SSI

perhaps thinking of SSI which is a different program than Social Security. In SSI there is a Maximum $2,000 liquid assets (for almost all).

[Ziggysmom]

23. We DID have savings. Then an accident. Then the medical bills piled in. Then the hospitals

threatened to garnish my wages.

Then my husband became disabled and unable to work.

We did everything right, but then the lack of universal health care ruined us.

You say, “There are plenty of those making a couple of thousand dollars a year less than you make, and somehow get along.” That is pretty insulting. I hope you never know the anguish and anxiety we have felt.

[erronis]

37. You explained the problem in a very human and relatable way. Except for those filthy rich thieves.

[Bengus81]

57. Well said..........n/t

[Dave says]

25. There are those who've seen their savings wiped out repeatedly ...

... due to recurring periods of unemployment not due to any fault of their own. They may have been saving 10% yearly, spent it down; resumed saving 10%, spent it down, and on it goes. Ain't unregulated capitalism great? The broligarchy thinks so, so we should shut up and if we're lucky enough to have a few pennies when our bodies wear down and we're forced to retire, then great. But I hate this thinking that those of us without 7 figures saved in our 401k are morally at fault, they too could've been a rich man or woman had they just been ... luckier. Maybe white male, maybe able to have graduated from a university. O wait, save? Hahaha. They were forced to borrow so much, there was little meaningful opportunity.

That's the bottom line: in unregulated late-stage capitalism, there is not and never was an equality of opportunity.

[stillcool]

47. I think there was something

close to a living age at what time. People worked at one job and could afford to live. I actually met some of them. I know people in this day and age that have 3 jobs and still don't make enough money to save a dime. And yes, people 'get along' on a 'few thousand' less? How would you know?

[markodochartaigh]

30. READ THE ARTICLE

What O'Malley is talking about is a temporary collapse and interruption of benefits due to DOGE's fiddling with the computers and terminating employees. He is NOT saying that the Social Security system is likely going to collapse in 30-90 days never to pay anything again.

Sure, there are funding issues which must be addressed, and having the party in charge which has wanted to privatize Social Security for decades is very bad. And missing even one check is terrible for people who depend on Social Security.


But O'Malley is not saying that he thinks that Social Security is going away within 30-90 days.

[erronis]

38. They've installed backdoors into the SSA. Every penny will be siphoned off to support putin/musk.

And maybe trump/family. I think they've done their damage and will find an unpleasant end.

[Cirsium]

39. What article?

The OP consists of tweets, not excerpts from and a link to an article.

I found and read the article. It doesn't support what you are claiming. Here is everything O'Malley said about Social Security.

Ultimately, you’re going to see the system collapse and an interruption of benefits,” O’Malley said. “I believe you will see that within the next 30 to 90 days.”

Ahead of any interruption in benefits, “people should start saving now,” O’Malley said.

As commissioner, O’Malley told Congress the agency needed more funding for information technology modernization.

O’Malley said DOGE leaders are now making changes at the agency, and significant staff cuts have already led to system outages. Those intermittent IT outages may happen more frequently and for more extended periods of time until there is a “system collapse and an interruption of benefits,” he said.

“I think many people throughout the country are going to start bringing a lot of heat to members of Congress who have been facilitating, supporting, aiding and abetting the breaking of their Social Security and the interruption of benefits that they work their whole lives to earn,” he said. “These are earned benefits.”

https://www.cnbc.com/2025/03/01/doge-actions-may-cause-social-security-benefit-interruption-ex-agency-head.html

[New Breed Leader]

44. The article is way worse, it just confirms the bad news

[Cirsium]

46. Exactly

...

[pandr32]

31. We need to cut back our spending...

on everything but essentials. As a protest, and as necessity.
It all trickles up with the exception of small community businesses. We need to dump the corporate stores with the possible exception of Costco.

[Cirsium]

45. Austerity?

People who are dependent on Social Security to survive cannot cut back spending anymore than they already have. People are already struggling to afford the essentials.

[TexasBushwhacker]

60. And that will mean they will have to rely

on food pantries, friends and FAMILY. Did their friends and family vote for Trump? Wow! Sucks to be them!

[Cirsium]

63. All of us

It sucks to be all of us, although it does seem there are quite a few here who are viewing this crisis from a place of real or imagined privilege and immunity.

[pandr32]

68. No. ALL of us.

[Cirsium]

69. True

...

[slightlv]

42. If it's 60 days out, that's just in time for our

all our insurance payments to come due AND the property tax on the house. I'm already trying to stash away 20-50$ towards making those payments AND make the normal utility bills. Eating is going to be iffy... even if they don't touch SS.

I checked my credit union account first thing this morning. Wanted to make sure the small annuity I get had been deposited. It was, so I'm going to transfer most of it into the savings account for the "big bills" (as I call them).

I honestly don't know what we'll do if the SS checks don't come or come in late. The uncertainty is already overly stressful. I just can't imagine our government doing this to all the most vulnerable of American citizens. En masse firings are bad enough, but at least they're young and vital enough to still be working (for most). At this point in our lives, there's not a hope of it. We may see a lot of suicide pacts if they go through with this on seniors and the disabled. I know I'm keeping it in the back of my head as a final "I see absolutely no way out of this"... and I hate this maladministration with every fiber of my being!

[Mr. Mustard 2023]

43. If those "glitches" cause loss of trust it'll

cause a cascade effect on the economy. Every American benefits from SSI directly or indirectly. If we wake up one morning & realize SSI may be gone, or isn't trustworthy it will cause a bank run if you will, while families across the country will suddenly be in dire straights.

Look guys, this is darned worrisome. I do not put it past Trump & Musk to coordinate an economic shock, backed up by their minions like Gabbard, Hegseth & Patel.

[BidenRocks]

48. Save your money under the mattress

I don't trust these bastards not to kill the FDIC.

[usedtobedemgurl]

74. In P25, they want to roll FDIC into another agency

And give the banks permission to gamble with our money!

[BidenRocks]

82. I use credit unions.

I dropped by my CU and asked them.
Banks have FDIC which chump could fuck with.
Credit Unions are secure to $250K under the NCUA which I was told, is chump proof.
Why should we even have to question this?
1929 redux.

[Sogo]

86. Did they explain how Credit Unions are "trump proof?"

I'm in the process of transferring money to a CU, but am not totally sure that it will be any safer. The customer service person I spoke with said that NCUA is also a government agency. Is that not correct?

[BidenRocks]

87. The FDIC came about in 1933 by FDR

The NCUA 1970. Both government agencies doing the same thing, one for banks and one for CUs.
I think crazy chump will see FDR and try to kill it. Then SS.
I'm gettin' too old for this shit.

[Bengus81]

49. You think town halls are something NOW?? Wait until SS starts getting trashed

Nowhere to hide for Republicans in Congress............

[Buns_of_Fire]

78. I've said it before and I'll say it again: They'd need a bulletproof

popemobile just to get from their bed to the bathroom.

[Initech]

79. I have a MAGA rep in my district.

If there's a town hall, I'm totally letting her have it.

[bigtree]

50. of couse, we haven't been able to save enough to survive this presidency

...and the resulting total economic collapse of the nation.

We will invest enough to travel the short distance to D.C. to protest day and night.

We've budgeted for that. We can't afford to just hunker down.

[scarletlib]

51. My guess is that most people on Social Security don't have the resources to save that much.?

Even if they did, why should they have to denude themselves of their hard earned resources because of government corruption

[GoodRaisin]

70. Right. The time to save was long ago if you already draw SS.

Most are retired and don’t have a work income to save. It’s a matter of if you already have the resouces to survive without your SS, or not.

I figure I can last about 10 years on my IRA if my health stays good. After that maybe downsizing my home from the home I have lived in for over 30 years to something smaller. That might be enough to get me to death’s door.

[dobleremolque]

55. One way to focus the attention of the banking and financial community

on this is to politely inquire whether your financial institution has developed a forbearance policy in the event the DOGE boys cause the Social Security or Disability payments system to malfunction and not send out payments on time. Send copies of your inquiry to your U.S. Representatives and U.S. Senators, too. This morning, I sent emails, asking that question, to my bank, credit union, and Congressional delegation.

If I've done the math right, let see ..... the average SS payment is $1,876. So, $1,876 x 72-million recipients, is a $135-billion hit to the economy if payments are missed for a single month.

I sense something like that would make the financial and banking community sit up and take notice and might even create allies in that industry, however temporarily, to stop the depredations by Musk et al on the federal payments system.

(Edited to add: It's DOING something, not just wringing hands and moaning powerlessly about approaching doom.)

[Baron2024]

88. That Is A Good Idea

Banks and the financial community will be on our side here. A $135 Billion dollar hit to the economy in one month is no joke. A lot of Landlords will not get paid. Utilities will not get paid. Basics will not be bought at Wal Mart and other retailers. The ripple effect will be large. Trump and Musk are so stupid. This is even worse than the Trump tariffs. The economic effect would be huge if payments were not made. The ignorance of how the economy functions by Trump and his gang is amazing. Trump really is going to burn down the entire country. God help us all.

[AllaN01Bear]

59. save with what? save with what? i get amount redacted . how am i supposed to save with what i get? huh?

[bluestarone]

75. IF their goal is to destroy our country the fastest way possible

THIS IS IT!! Start the underground, i say!!

[Mike 03]

76. A Must-See Post. Kicking, and recommending highly

[synni]

77. Those of us on SSI aren't allowed to save

We are limited to only $2,000. Anything more than that is deducted from our checks.

[Akoto]

85. I was going to post the same. I'm on SSI due to disability. By the rules, we can't save!

Then again, SSI is paid for via a different pool than the Social Security fund, but I don't trust that they'll overlook us SSI folk.

[ThoughtCriminal]

81. If that happens

MAGAs will wish they were only as unpopular as Nazis.

[mucholderthandirt]

92. Saving *what*, exactly? I spend nearly every dime I get on bills and food. What's left? Where should it go?

In the banks that are going to fail? Into crypto? Into the stock market?