The Stock Ticker Notable Investors Are Holding

They may not be trading on public markets, but Pacaso just reserved the ticker PCSO. Co-founded by the man who took Zillow from seed to IPO, Pacaso brings co-ownership to a $1.3T market. They've earned $110M+ in gross profits already. Well-known firms like Maveron even invested.

GOP Warns Trump-Appointed Social Security Chief Frank Bisignano Against Further Staff Cuts, Citing Risks To Services As Baby Boomers Age

Tanya Rawat
May 08, 2025

House Republicans are warning newly confirmed Social Security Administration Commissioner Frank Bisignano against further staffing reductions that could worsen already deteriorating customer service at the agency.

What Happened: Fifteen House Republicans sent a letter to Bisignano shortly after his Senate confirmation on Tuesday, urging him to hold off on additional staff cuts or office closures.

The letter, led by Rep. Nicole Malliotakis (R-NY), emphasized that while government efficiency is important, it cannot come at the expense of Americans who depend on Social Security benefits.

The Members also stressed the importance of maintaining uninterrupted services for seniors and people with disabilities who depend on Social Security benefits, noting the urgency as the entire Baby Boomer generation will reach age 65 by 2030.

The Social Security Administration has already announced plans to reduce its workforce from approximately 57,000 to 50,000 employees through voluntary early retirement and separation incentive payments. Acting director Leland Dudek previously announced intentions to cut 7,000 staff members, with about 3,000 having taken buyouts as of March.

See Also: Amazon Unveils Revolutionary Robot ‘Vulcan’ With Sense Of Touch To Handle 75% Of The Warehouse Items: ‘People Will Always Be Part Of The Equation’

Why It Matters: The agency has been under scrutiny from Elon Musk’s Department of Government Efficiency, which aims to reduce federal waste.

The President Donald Trump administration has also requested Supreme Court permission to give DOGE access to Social Security Administration data of millions of Americans, after a federal judge in Maryland blocked the access, finding officials likely violated privacy laws.

Democrats have seized on concerns about the agency’s future, criticizing Trump’s appointment of Bisignano, who has a reputation as a “cutter” in the private sector, according to a report by USA Today. They’ve launched a coordinated campaign including press conferences at local Social Security offices and a “war room” to maintain focus on the issue.

Read More: 

  • Peter Schiff Says Scott Bessent ‘Knows The Answer’ To Congress’ ‘Who Pays Tariffs’ Question, Calls Treasury Chief ‘A Very Smart Man’

Image Via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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