President Donald Trump was sworn into office on Jan. 20, and he has already embarked on an ambitious agenda. With the Trump administration attempting to make significant spending cuts, many retirees might be wondering what the 47th president's plans are for Social Security,

The Social Security Administration is preparing to lay off at least 7,000 people from its workforce of 60,000 — and the final reduction in force number could be as high as 50%, according to two people familiar with the agency’s plans who are not authorized to speak publicly.