Donald Trump's policies spark worry for retirees. A federal hiring freeze impacts inflation data collection. This data is crucial for Social Security adjustments. Inaccurate data could lead to smaller benefit increases.

The Treasury Secretary has described new savings account for young Americans as a "backdoor for privatizing Social Security."

Bush's presidency cratered in his second term, but one notable turning point was his administration's failed attempt to privatize Social Security. Voter backlash was fierce. Two decades later, President Donald Trump may be eyeing a new attempt.