President Donald Trump’s firing of the commissioner of labor statistics, Erika McEntarfer, on Friday raises serious risks for retirees living on Social Security, and for those with money in U.S. bonds and bank savings accounts.

T here were many reasons George W. 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.

The sustainability of Social Security trust funds is crucial for millions of Americans. President Trump's campaign promise to eliminate taxes on Social Security benefits has sparked debate over its potential consequences.