Does political loyalty suffice when your fiscal future is in question? For millions of baby boomers, the answer is steadily “no.” Within a few months, Donald Trump’s approval rating in voters aged over 65 has undergone a steep decline, marking a critical shift in a demographic that once constituted the bedrock of his electoral drive. It’s not merely a question of politics but of growing concerns regarding retirement security, access to health care, and the security of Social Security.
1. A Sharp Fall in Approvals
Recent HarrisX polling indicates declining Trump support amongst voters aged 65+ from 47% approval in July to 43% in September but growing disapproval reaching 56%. YouGov/Economist statistics paint a similarly downward picture: a net shift from +1 in September to -12 in October. This 13-point net decline is unusual for a demographic that provided 51% of its vote to Trump in 2024. This loss of confidence is especially problematic for GOP momentum entering the 2026 midterms because it occurs in states where the elderly population has long provided a tipping point.
2. Economic Stability Ebbing Away
Boomers were once supported by cheap education, secure jobs, and rising property values. Now they are facing static wages, declining saving, and rising costs. In the latest HarrisX survey, 41% reported their personal finances were worse, compared to 37% in July. Nearly 70% report their wages have leveled off, and 56% have saved less than a year ago all higher than any demographic peer group. The Economic Policy Institute estimates nearly half the aged Americans are financially ill prepared for retirement, and millions are “on the cusp of poverty.”
3. Social Security Reductions and Office Shutdowns
Federal staffing reductions of 12% within the Social Security Administration (SSA) and the closure of six of every ten regional offices have aged citizens waiting for long periods of time and having reduced service access. Labor economist Teresa Ghilarducci claims that the February closures were “a wake-up call” that “awakened fears that the retiree safety net is being unraveled.” Nonpartisan estimates indicate automatic benefit reductions will become a possibility by 2032 or earlier unless lawmakers intervene and reduce payments to levels of 79% of the scheduled levels.
4. Retirement Security in Crisis
The Schwartz Center for Economic Policy Analysis observes that America is having its most troublesome retirement moment in generations. The OASI Trust Fund will be exhausted by 2033, and the replacement of defined benefit pensions with market-based 401(k)s has exposed retirees to the vagaries of the business cycle. For pre-retirees, the vagaries of the market will erase years of accumulation in months, as the 2008 financial crisis showed.
5. Health Care Reductions Jeopardize Safety Nets
A proposed federal budget plan includes $911 billion in Medicaid reductions over a decade for 22 million Americans aged 50+. Medicaid covers over half of the long-term care for Americans. With reduced funding, this translates to greater expenditures and reduced choices for the elderly. Immigration controls have also reduced the caregiving workforce further, by escalating wages and service fees. Research for Alzheimer’s and dementia has also been slashed and impeding advancements for cures.
6. Government Shutdown Fallout
The October furlough has kept SSA running with minimal staff. Systematic benefit payments are still being made but new claims processing, appeals and card replacement are stalled. A YouGov survey revealed that 53% of boomers disapprove of how the recent government shutdown was handled and 46% hold him and the House and Senate GOP responsible.
7. Nutrition and Aging Services Under Pressure
The FY 2026 budget law cuts SNAP by $186 billion, making it subject to tighter eligibility and work requirements that will have the potential to reduce household benefits when a household member loses benefits. Eliminating the Administration for Community Living gets rid of appropriations for falls prevention, elder abuse prevention programs, and Aging and Disability Resource Centers. Advocacy partners alert these cuts will increase hunger, isolation, and health risk for American older adults.
8. The Cost of Human Inequality
According to research by the National Council on Aging, poverty claims poor older adults nine years early when matched against their most affluent counterparts. Fourty-five percent of 60+-year-old households have insufficient income to afford basic living expenses, and 80% are unable to survive a large financial setback. As Ramsey Alwin, the president of the NCOA, said: “Poverty steals almost a decade of older Americans’ lives.”
9. What Older Voters Want
Polls show overwhelming approval of strengthening Social Security this year rather than a decade from now. Eighty-seven percent of Americans want Congress to move immediately to assure funding, and 83% think all workers need pensions to guarantee independence when they retire. There is also widespread fear about the escalating long-run cost of long-term care, with 80% fearing that they will be unable to afford nursing care. The sudden drop in approval among baby boomers signals something greater than partisan discontent it’s a signal that the generation is losing confidence that leadership will safeguard their economic and health security. For older Americans, the question is far from abstract; it is framed in terms of monthly benefit payments, access to healthcare, and the freedom to live in dignity in retirement.
