Former Social Security Head Warns The Social Security System Could ‘Collapse’ in ‘The Next 30 to 90 Days’
Former Social Security Head Warns System Could ‘Collapse’ in ‘Next 30 to 90 Days’
Story by Nandika Chatterjee • 5h
Kevin Dietsch/Getty Images
Martin O’Malley, former Social Security commissioner under the Biden administration, sounded the alarm over the Department of Government Efficiency’s cost-cutting measures at the agency, warning that the Social Security Administration could “collapse” within the next 30 to 90 days.
Stock Trading & Investing Using Volume Price Analysis: Over 200 Worked Examples
Stock Trading & Investing Using Volume Price Analysis: Over 200 Worked Examples
O’Malley, a Democrat who served as governor of Maryland from 2007 to 2015, told CNBC on Saturday that the DOGE’s proposed reductions in funding and staffing have already created chaos at the agency. He predicted that without intervention, the system could face a full breakdown.
“Ultimately, you’re going to see the system collapse, and there will be an interruption of benefits,” he said. “I think that will happen within the next 30 to 90 days.”
More than 72.5 million Americans rely on Social Security for benefits.
The former Social Security Commissioner cited intermittent IT outages as a sign of the system’s growing instability.
“People should start saving now,” he urged.
Approximately 45 SSA offices are slated to be closed after their leases expire. Under DOGE’s direction, the Social Security Administration has also offered buyouts to agency employees, with a deadline of March 14. In a recent letter, the SSA denied claims that it would reduce its staff by 50 percent, saying it had “set a staffing target of 50,000, down from the current level of approximately 57,000 employees.”
UNITED STATES - SEPTEMBER 11: Martin O'Malley, commissioner of the Social Security Administration, holds a $20 bill during the Senate Budget Committee hearing titled
Other significant changes have rocked the SSA since Trump took office. Michelle King, the agency’s acting commissioner, resigned in February after a dispute over DOGE’s access to sensitive user data. President Trump has tapped Fiserv CEO Frank Bisignano as the new commissioner, but the Senate has not yet confirmed him.
O’Malley also suggested that a collapse of the Social Security system would spark political repercussions, emphasizing the long-term harm caused to workers who have paid into the system their entire lives.
“People are going to start bringing a lot of heat to members of Congress who have been enabling the destruction of Social Security and the interruption of earned benefits,” he said
Former Social Security Head Warns The Social Security System Could ‘Collapse’ in ‘The Next 30 to 90 Days’
Former Social Security Head Warns System Could ‘Collapse’ in ‘Next 30 to 90 Days’
Story by Nandika Chatterjee • 5h
Kevin Dietsch/Getty Images
Martin O’Malley, former Social Security commissioner under the Biden administration, sounded the alarm over the Department of Government Efficiency’s cost-cutting measures at the agency, warning that the Social Security Administration could “collapse” within the next 30 to 90 days.
Stock Trading & Investing Using Volume Price Analysis: Over 200 Worked Examples
Stock Trading & Investing Using Volume Price Analysis: Over 200 Worked Examples
O’Malley, a Democrat who served as governor of Maryland from 2007 to 2015, told CNBC on Saturday that the DOGE’s proposed reductions in funding and staffing have already created chaos at the agency. He predicted that without intervention, the system could face a full breakdown.
“Ultimately, you’re going to see the system collapse, and there will be an interruption of benefits,” he said. “I think that will happen within the next 30 to 90 days.”
More than 72.5 million Americans rely on Social Security for benefits.
The former Social Security Commissioner cited intermittent IT outages as a sign of the system’s growing instability.
“People should start saving now,” he urged.
Approximately 45 SSA offices are slated to be closed after their leases expire. Under DOGE’s direction, the Social Security Administration has also offered buyouts to agency employees, with a deadline of March 14. In a recent letter, the SSA denied claims that it would reduce its staff by 50 percent, saying it had “set a staffing target of 50,000, down from the current level of approximately 57,000 employees.”
UNITED STATES - SEPTEMBER 11: Martin O'Malley, commissioner of the Social Security Administration, holds a $20 bill during the Senate Budget Committee hearing titled
Other significant changes have rocked the SSA since Trump took office. Michelle King, the agency’s acting commissioner, resigned in February after a dispute over DOGE’s access to sensitive user data. President Trump has tapped Fiserv CEO Frank Bisignano as the new commissioner, but the Senate has not yet confirmed him.
O’Malley also suggested that a collapse of the Social Security system would spark political repercussions, emphasizing the long-term harm caused to workers who have paid into the system their entire lives.
“People are going to start bringing a lot of heat to members of Congress who have been enabling the destruction of Social Security and the interruption of earned benefits,” he said