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That's because, taken together, the two primary Social Security funds are set to only be able to pay out full benefits through 2035; the Old-Age and Survivors Insurance Trust Fund, one of the main funds comprising Social Security, will start getting depleted in 2033. AdvertisementIn other words, the moment that today's older Gen Xers are ready to retire, their Social Security benefits could start to shrink. Gen Xers — born from 1965 to 1980 — have been deemed the country's "neglected middle child" by the Pew Research Center. And among the different generations, Gen Xers were the most likely to report that they were feeling financially insecure. That could set the stage for the new crop of Gen X retirees to arrive in an already-precarious retirement economy.

Persons: —, Gen X, Xers, Gen Xers —, YouGov —, Gen Xers, X, Gen Zers, Gen, Michele Raneri, aren't, Xer Organizations: Service, Gen, Social Security, Insurance Trust Fund, Business, Security, Pew Research Center, of Congress, Millennials, TransUnion, Survey, Alliance, Lifetime, Income

☆ Social Security trust fund set to be depleted by 2035 estimates U.S. Treasury
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSocial Security trust fund set to be depleted by 2035 estimates U.S. TreasuryCNBC's Meghan Casella joins 'Closing Bell Overtime' with the latest on Medicare and Social Security fund estimates out of the Treasury.

Persons: Treasury CNBC's Meghan Casella Organizations: Social Security, Treasury, Medicare

☆ A 64-year-old 'peak boomer' worries his savings and Social Security won't be enough to retire: 'My biggest fear is finding myself at 75 standing at the door at Walmart.'
▼ + stars: | 2024-05-03 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Kirsch is hoping to start collecting Social Security checks in a couple of years, just before his 67th birthday. Related storiesFor many, Social Security won't be enough to fill the gaps. As of March 2024, the Social Security Administration said that its average monthly check sent to recipients is $1,774.83. And, if lawmakers don't intervene, the US Social Security fund is set to dry out by the late 2030s. "Start saving and do it as aggressively as you can," he said.

Persons: —, David Kirsch, Kirsch, Hill , New Hampshire —, he's, Kirsch isn't, didn't Organizations: Service, He's, Business, Walmart, Survey, Income, Social, Social Security Administration, US Social Security Locations: Caribbean, South America, Hill , New Hampshire

☆ A 63-year-old peak boomer is 'incredibly scared' Social Security won't be enough to cover her expenses in retirement: 'I'll probably need to work until I die'
▼ + stars: | 2024-04-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

She's part of the "peak boomer" cohort, most of whom will rely on Social Security in retirement. I was somebody who did really well, and it's very disheartening because I have no idea what's going to happen with retirement," Senffner told BI. "My husband and I are both a year and a half from retirement age, but I think I'll probably need to work until I die because there's no money." Just Social Security isn't going to cover that." And with the Social Security fund set to dry out by the late 2030s — unless lawmakers intervene — Senffner is "incredibly scared" about her future.

Persons: Diane Senffner, She's, —, doesn't, Senffner, she'll, Diane Senffner Senffner, hasn't, it's Organizations: Social Security, Service, Business, Alliance, Lifetime, Income, Security, Survey, Walmart, AARP

☆ Over a million boomers on Medicare could save big on prescription drugs next year
▼ + stars: | 2024-02-14 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Read previewSome Medicare recipients could save thousands of dollars on out-of-pocket drug costs next year as even more boomers reach their spending threshold. In 2023, 50.5 million Medicare beneficiaries were enrolled in Part D plans. About 65 million people in total are enrolled in Medicare, according to the Centers for Medicare & Medicaid Services. If the national cost cap had been in place in 2021, KFF estimates that 1.5 million Medicare beneficiaries would have seen relief. Are you a Medicare beneficiary who has seen relief from the out-of-pocket drug cost cap?

Persons: —, Joe Biden's, California Medicare enrollees Organizations: Service, Medicare, Business, Kaiser Family Foundation, Institute, Social Security, Centers, Medicaid Services, California Medicare, Services Locations: California, California , Florida , Texas , New York, Pennsylvania

☆ China tries to halt stock market rout by boosting lending and wooing foreign investors
▼ + stars: | 2024-01-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. It will allow Hong Kong banks to expand their businesses in mainland China and reduce the barriers to investing in mainland insurers. Last month, China Reform Holdings, a state-owned investment fund, announced it had bought tech-focused index funds to support the market. The brutal sell-off in Chinese stock markets has even forced some hedge fund managers to apologize for making wrong bets.

Persons: Li Yunze, “, Pan Gongsheng, Goldman Sachs, Li, ”, Lam, Li Qiang, Wang Zhao, Premier Li Qiang, Stringer, Li Bei Organizations: Hong Kong CNN, Administration of Financial, People’s Bank of, Buildings, New Champions, Getty, Premier, Xinhua, Reuters, Securities Daily, Social Security Fund, China Reform Holdings, Central Huijin Investment, Shanghai Banxia Investment Management Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen, People’s Bank of China, Victoria Harbour, British, Tianjin, AFP, Central, Fuyang, China's, Anhui

☆ China, debt and Disney: Three economic themes that will dominate the Republican primaries
▼ + stars: | 2024-01-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Republican presidential candidates Nikki Haley and Ron DeSantis sparred on a wide range of economic issues during the CNN GOP presidential debate on Wednesday evening. But as Haley and DeSantis duked it out to crown themselves the most fiscally prudent candidate, some clear economic themes began to emerge that will likely have a big influence on the upcoming Republican primaries and beyond: China, debt levels and the government’s role in business. ChinaBoth Haley and DeSantis sought to prove how tough they could be on China. But as my colleague Elisabeth Buchwald points out, the US and China are the first- and second-largest economies in the world. President Joe Biden has also made reducing economic dependence on China a platform in both his 2020 and 2024 campaigns.

Persons: Nikki Haley, Ron DeSantis sparred, Nancy Pelosi’s, ”, “, Ron, you’re, Haley, Haley, DeSantis, Donald Trump, Elisabeth Buchwald, Joe Biden, DeSantis didn’t, Trump, wouldn’t, ” DeSantis, Gary Gensler, “ I’m, ” Sen, Sherrod Brown, Brown, Nick Smart, It’s Taylor, Taylor, Swift, Ramishah Maruf, “ Taylor Swift, Pollstar Organizations: CNN Business, Bell, New York CNN, Republican, CNN, Social Security, Walt Disney Company, FBI, SEC, Securities, Exchange, SEC’s, ”, Banking Committee, Spotify, AMC, Bloomberg Locations: New York, China, Iowa, Beijing, United States, South Carolina, Florida, DeSantis

☆ China basic pension fund posts 0.33% investment gain in 2022
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSHANGHAI, Nov 4 (Reuters) - The basic pension fund managed by China's social security fund gained 5.1 billion yuan, or 0.33% in 2022, down from a 4.9% gain in 2021, the National Council for Social Security Fund said on Saturday. China's stock benchmark CSI 300 (.CSI300) lost 21.6% in 2022 and so far this year is down 7.4%. The basic pension fund manages a total 1.62 trillion yuan by the end of 2022, and has posed an annual average gain of 5.4% since the end of 2016, when the national social security fund started to manage the pension's investment. Separately, the national social security fund reported a 5.07%, or 138 billion yuan loss for the year of 2022, it said in a report in September.

Persons: Aly, Michael Perry Organizations: National People's Congress, REUTERS, Rights, National Council for Social Security Fund, CSI, Shanghai, Thomson Locations: Shanghai, China

☆ Panama protesters detained in mine contract clashes, police injured
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo Acquire Licensing RightsCompanies First Quantum Minerals Ltd FollowPANAMA CITY, Oct 24 (Reuters) - Police arrested nearly 50 protesters in Panama in confrontations over a new government-approved contract for a major copper mine, officials said on Tuesday, adding that five police officers were injured in the clashes. Last week, lawmakers gave final approval for the extended concession covering the Cobre Panama mine operated by Canada's First Quantum (FM.TO). Some locals and civic organizations have opposed the contract due largely to concerns about the mine's environmental impact. The police noted two officers were wounded by gunshots on Monday night in Panama City, while three others where beaten in a street blockade in Chiriqui.

Persons: Laurentino Cortizo, Elida Moreno, Sarah Morland, David Alire Garcia, Rod Nickel Organizations: Minerals, REUTERS, Aris, Quantum Minerals, PANAMA CITY, Police, Pan, Thomson Locations: Panama, Donoso, Colon, Chiriqui, Central America, Panama City

The individuals' accounts varied but were consistent in describing heightened scrutiny of overseas travel even after China reopened borders in January. Reuters is reporting these measures and the scope of some post-COVID travel curbs for the first time. NEW LIMITSRestrictions on personal foreign travel have long applied to senior government officials and state executives with access to confidential information. MAPPING CONNECTIONSChinese authorities are also scrutinising personal foreign ties, according to a document seen by Reuters, one of the 10 people who discussed travel curbs and three other state-enterprise workers with knowledge of the matter. Thomas said the travel curbs in particular would have implications for China's interactions with the world.

Persons: Carlos Garcia Rawlins, Xi, Neil Thomas, Thomas, Wang Zhi'an, Engen Tham, Julie Zhu, Kane Wu, Xie Yu, Martin Quin Pollard, David Crawshaw, Vidya Ranganathan Organizations: REUTERS, Rights, Reuters, Asia Society, Center for, State, Information Office, Communist Party, China Construction Bank, China Development Bank, National Council for Social Security Fund, Municipal Eco, Communist, Communist Youth League, Ministry of State Security, U.S . Central Intelligence Agency, CIA, Beijing, Thomson Locations: China, Beijing, Rights SHANGHAI, HONG KONG, Center for China, Washington, Shanghai, Zhejiang, Hong Kong, Singapore, Ningbo, Wenzhou, Japan, Italy

☆ Social Security benefits may be cut by at least 20% in the next decade. Here's how Congress may fix that
▼ + stars: | 2023-09-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Republican Sen. Bill Cassidy of Louisiana speaks to the press on Capitol Hill on Feb. 10, 2021. Meanwhile, Larson has put forward a bill, Social Security 2100, in four sessions of Congress to make benefits more generous. Cassidy wants to create a new Social Security fund by raising $1.5 trillion that would be invested in the stock market. Any changes to Social Security would require 60 votes in the Senate, and therefore would have to have agreement on from both parties. Rep. John Larson, D-Conn., speaks during an event to introduce legislation called the Social Security 2100 Act.

Persons: Republican Sen, Bill Cassidy of, John Larson, Connecticut —, Biden, Cassidy, Bill Cassidy, Nicholas Kamm, Florida Republican Sen, Rick Scott, Larson, Conn, Mark Wilson Organizations: Istock, Getty, Social Security, Republican, Democratic Rep, Capitol, AFP, Florida Republican, Social, House Democrats, Security, Senate Locations: Bill Cassidy of Louisiana, Louisiana, Florida, Jan

☆ Are U.S. seniors among the developed world's poorest? It depends on your point of view
▼ + stars: | 2023-08-05 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Peopleimages | E+ | Getty ImagesIs old-age income poverty too high? Consider this thought exercise: What is a tolerable poverty rate among American seniors? This ranks the U.S. behind 30 other countries in the 38-member bloc, which collectively has an average poverty rate of 13.1%. That old-age income poverty rate has declined by over two-thirds in the past five decades, according to the Congressional Research Service. Researchers seem to agree that a looming Social Security funding shortfall is perhaps the most pressing issue facing U.S. seniors.

Persons: Andrew Reilly, Reilly, Mitchell, David Blanchett, —, Zhe Li, Joseph Dalaker, hurtling, Olivia Mitchell, Blanchett Organizations: Organization for Economic Co, U.S, Employment, Labour, Social Affairs, Social Security, OECD, Security, Census, Congressional Research Service, CRS, Prudential Financial, Social, Insurance Trust Fund, Olivia Mitchell University of Pennsylvania, Pension Research, Social Security Administration Locations: U.S, Mexico, that's, PGIM, American

☆ Fitch tells CNN why it downgraded America now
▼ + stars: | 2023-08-02 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Fitch Ratings is defending its controversial decision to downgrade the US credit rating by pointing to the nation’s mountain of debt. “The numbers speak for themselves,” Richard Francis, the lead analyst on US sovereign ratings at Fitch, told CNN in an interview on Wednesday. Within minutes of Fitch’s downgrade on Tuesday evening, the White House, Treasury Department and some leading economists slammed the move. Whether America slips into a mild recession or narrowly avoids one “just doesn’t move the needle,” Francis told CNN. ‘The center’s fallen apart’Beyond the fiscal mess, Fitch is growing increasingly worried about the political situation in the world’s largest economy.

Persons: New York CNN Business — Fitch, ” Richard Francis, Francis, “, ” Francis, Janet Yellen, Fitch, Obama, Jason Furman, Larry Summers, ”, Donald Trump, there’s, Biden Organizations: New York CNN Business, Fitch, CNN, Treasury Department, Social Security, Office, Democrats, Republicans, Trump Locations: America

☆ Explainer: What's next for Ant after its nearly $1 bln fine?
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +3 min

After the fine, the next step would be to obtain the financial holding license, which is crucial for reviving any listing plans by Ant. A second license Ant is waiting to procure is one for a personal credit reporting company. IPO PROSPECTSThe resolution of Ant's regulatory woes has revived talk of whether the company's listing could be back on the cards. Alibaba, which has a 33% stake in Ant, said on Sunday it was considering whether to participate in the buyback. Ant's major shareholders, Hangzhou Junhan Equity Investment Partnership and Hangzhou Junao Equity Investment Partnership, have voluntarily decided not to participate in the repurchase.

Persons: Ant, Ant ., Jack Ma, Warburg Pincus, Ant's, Roxanne Liu, Brenda Goh, Christina Fincher Organizations: Ant, Financial Regulatory Administration, State Council, Reuters, Ant Group, Shanghai's STAR, Hangzhou Junhan Equity Investment Partnership, Hangzhou Junao Equity Investment Partnership, China Life Insurance, China Pacific Life Insurance, Plan Investment, Yunfeng, Thomson Locations: BEIJING, Hong Kong, Hangzhou, Canada

☆ As Republican contenders start to line up for the White House in 2024, Social Security may be key issue
▼ + stars: | 2023-06-07 | by ( Lorie Konish | ) www.cnbc.com time to read: +7 min

Proposal for 'modern version' of Social SecurityThe Social Security plan Laffey would implement throws out the traditional approaches of tax increases or benefit cuts. Currently, workers and employers each pay 6.2% on up to $160,200 in wages toward Social Security. "It's a modern version of Social Security," Kotlikoff said. The idea of rethinking the way Social Security funds are invested has come up before. Andrew Biggs, who worked in the White House on Social Security reform at the time and who is now a senior fellow at the American Enterprise Institute, remembers the proposal did not come close to succeeding, even as Social Security still had surpluses and Republicans controlled both houses of Congress.

Persons: Alex Durante, Durante, Laurence Kotlikoff, Kotlikoff, Laffey, Morgan Keegan, Steve Laffey, Ed Jones, Cranston, George W, Bush, Andrew Biggs, Biggs, Biden Organizations: iStock, Social Security, Social Security's, Lawmakers, Washington, Tax, Foundation, Social, Boston University, U.S, Senate, Republican, Afp, Getty, Wall, today's Social Security, American Enterprise Institute, Democratic, Lake Research Partners, Trump, Alafaya Locations: Cranston , Rhode Island, Rhode Island, Colorado, America, Cranston, Orlando , Florida

☆ House Democrats, looking to renew plan to expand Social Security, say debt ceiling fight 'hurts seniors the most'
▼ + stars: | 2023-05-23 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Social Security already faces funding risksIn order to prevent a Social Security funding shortfall, congressional Democrats and Republicans must agree on a solution. The Social Security 2100 Act that was introduced in the last Congress had broad support among House Democrats. Changes in the Social Security 2100 Actzimmytws | iStock | Getty ImagesThe Social Security 2100 Act aims to extend the program's solvency, though estimates are not yet available for how long it could prolong the program's funding. Social Security 2100 also calls for adding an additional 12.4% net investment income tax for taxpayers making more than $400,000. Max Richtman president and CEO of the National Committee to Preserve Social Security and Medicare

☆ Series I bond rates fall to 4.3% amid cooling inflation
▼ + stars: | 2023-04-28 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Series I bonds will offer a 4.3% interest rate through October, according to new rates issued by the U.S. Department of the Treasury on Friday. The new rate marks a decline from the 6.89% annual returns Series I bonds were offering for the six months ending in April. The new 4.3% rate comes as inflation has been coming down. Series I bonds earn both a fixed rate of interest and a rate that changes with inflation. The new 4.3% rate includes a fixed rate of 0.90% and will be effective from May 1 to Oct. 31.

☆ As lawmakers gear up for federal debt limit fight, here's what it could mean for Social Security
▼ + stars: | 2023-04-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Speaker of the House Kevin McCarthy, R-Calif., speaks to reporters in Statuary Hall in the U.S. Capitol after announcing his debt limit increase plan on the House floor on April 19, 2023. More from Personal Finance:GOP senator touts 'big idea' Social Security funding fixExperts argue Social Security retirement age should not pass 67The return on waiting to claim Social Security is 'huge'A default on the U.S. debt would be unprecedented, as the country has paid all its bills on time since 1789, Yellen noted. The extraordinary nature of such an event has called into question how the government would juggle payments, including Social Security benefit checks. The U.S. Department of the Treasury would likely prioritize the payment of Social Security benefit checks, Jason Fichtner, a former Social Security Administration executive and vice president and chief economist at the Bipartisan Policy Center, told CNBC.com in January. However, it is possible the Social Security Administration would delay payments to ensure it has enough cash on hand, he said.

☆ Social Security's last stand: Programs funds set to be depleted by 2033
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSocial Security's last stand: Programs funds set to be depleted by 2033Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Sen. Bill Cassidy, R-La., join the show to discuss the financial trouble facing the Social Security fund.

☆ U.S. Social Security fund seen depleted 2033, year earlier than previous estimate
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 31 (Reuters) - The U.S. Social Security system's main trust fund's reserves will be depleted in 2033, one year earlier than estimated last year, while Medicare's finances have improved slightly, reports from the programs' trustees showed on Friday. The Medicare Hospital Trust Fund reserves are now expected to be depleted in 2031 compared to an estimate of 2028 made last year, due in part to new estimates showing higher revenue data. Both the Social Security and Medicare trustees reports said that the programs' finances are unsustainable in the long term, and Biden administration officials urged Congress to adopt President Joe Biden's proposal to raise Medicare taxes on wealthy Americans. Although the Social Security Disability Trust Fund is projected to be able to pay full benefits through 2097, the final year in the 75-year projection period, the combined Social Security funds would be only able to pay 80% of scheduled benefits after 2034, according to the trustees report. Driving the three-year delay in the projected Medicare Hospital Trust Fund depletion date were projections of lower health care spending in the post-pandemic era.

☆ U.S. to Provide $25 Million to Costa Rica for Cybersecurity
▼ + stars: | 2023-03-29 | by ( James Rundle | ) www.wsj.com time to read: +3 min

The U.S. will provide cybersecurity support to the government of Costa Rica, officials said, almost a year after a ransomware group laid siege to its critical infrastructure and triggered a state of emergency. The funds will also help Costa Rica with strategic and technical cyber planning, training, hardware and software licenses, the official said. The official said the U.S. government believes Costa Rica’s support for Ukraine may have been a factor in Conti’s attack, as the group previously expressed its support for the Russian government’s invasion. PREVIEWThe grant to Costa Rica follows similar efforts from the U.S. to assist Albania in recovering from a cyberattack, which the federal government has since linked to Iran. Costa Rica has applied to join this initiative, which comprises 36 countries and the European Union, the official said.

☆ 'That's a lie' accusation obscures bipartisan Social Security reform talks -sources
▼ + stars: | 2023-03-17 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

When Yellen responded that Biden "stands ready to work" with lawmakers, Cassidy shot back, "That's a lie because when a bipartisan group of senators has repeatedly requested to meet with him about Social (Security) ... we have not heard anything on our requests." For several months now, Cassidy and independent Senator Angus King, who caucuses with Democrats, have tried to address Social Security underfunding as approximately 10,000 baby boomers retire every day. The last week of bank failures and worries of a wider-ranging crisis, however, could give lawmakers second thoughts about investing Social Security funds in stocks. The senators' effort is not the only Social Security rescue plan being devised. "That's really just a way to have (benefit) cuts without leaving your fingerprints on it," said Nancy Altman, president of Social Security Works and head of a coalition of labor unions and other liberal-leaning groups.

☆ 'That's a lie' accusation obscures bipartisan Social Security reform talks, sources say
▼ + stars: | 2023-03-17 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

For several months now, Cassidy and independent Senator Angus King, who caucuses with Democrats, have tried to address Social Security underfunding as approximately 10,000 baby boomers retire every day. The last week of bank failures and worries of a wider-ranging crisis, however, could give lawmakers second thoughts about investing Social Security funds in stocks. The senators' effort is not the only Social Security rescue plan being devised. I tend to be conservative and say this worked once, let's try that again," Republican Representative Tom Cole told Reuters. "That's really just a way to have (benefit) cuts without leaving your fingerprints on it," said Nancy Altman, president of Social Security Works and head of a coalition of labor unions and other liberal-leaning groups.

☆ Some Republicans want Gen Z to retire later to avoid outright cuts to Social Security: 'Does it really make sense to allow someone who's in their 20s today to retire at 62?'
▼ + stars: | 2023-03-14 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +6 min

Several Republicans have said recently that they want to raise the retirement age for younger generations. Social Security is rapidly approaching insolvency, with the Congressional Budget Office estimating that the fund will become unable to make all of its payments starting in 2033. Social safety net programs like Medicare and Social Security have been a partisan battleground for Democrats and Republicans for decades now, with Republicans eyeing big cuts for both programs. There are going to be no cuts in Medicare, Social Security." The White House has continued to criticize Republicans for not being publicly consistent about their goals for Social Security and Medicare.

☆ Biden's State of the Union may not help potential 2024 election bid against Trump, experts say
▼ + stars: | 2023-02-09 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

President Joe Biden's second State of the Union address played well with viewers, and may have helped him tee up a bid for reelection in 2024 — but it might not make a lasting impact on his hopes for a second term, experts said. And the latest poll showed that fewer respondents had a "very positive" reaction to this year's address when compared with a survey taken right after Biden's previous State of the Union speech. "He delivered his speech forcefully if not flawlessly, adding no new fuel to questions about his fitness to serve a second term," Galston said. His opponent from the 2020 election, former President Donald Trump, has technically been on the 2024 campaign trail for months, though he has done little in-person campaigning. Former President Barack Obama, under whom Biden served as vice president, had launched his own reelection bid in April 2011, less than three months after his second State of the Union address.

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