Howard Lutnick says his 94-year-old mother-in-law ‘wouldn’t complain’ if Social Security missed a payment — claims ‘real America’ will be rewarded while the fraudsters ‘yell and scream’

‘He’s clueless or heartless’

Lutnick’s comments sparked immediate backlash. Senator Bernie Sanders was quick to respond:

“Secretary Lutnick: You are a billionaire. Maybe your mother-in-law wouldn't complain if she didn't get her Social Security check, but tens of millions of seniors struggling to survive would. They're not fraudsters. They earned it,” he wrote on X.

“How out of touch are you not to realize that?”

Senate Majority Leader Chuck Schumer was even more blunt:

“Howard Lutnick does not understand what a missed Social Security check means to a senior on a fixed income. He’s clueless or heartless.”

With an estimated net worth of $2.2 billion, Lutnick may not grasp how vital Social Security is for everyday retirees.

According to the Social Security Administration, 39% of men and 44% of women aged 65 and older rely on Social Security for at least half of their income. Even more striking: 12% of men and 15% of women depend on it for 90% or more of their income.

For them, skipping even one payment could have devastating consequences.

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Creating your own passive income

Lutnick isn’t making bold statements for shock value — his aim is to cut wasteful government spending by rooting out fraudulent benefit claims. And few programs are under more financial pressure than Social Security.

According to the program’s annual trustees report, the combined trust funds will be able to pay 100% of scheduled benefits until 2035. After that, the funds’ reserves will be depleted, and continuing program income will only be sufficient to cover 83% of scheduled benefits.

If you’re working, you can rely on a paycheck. If you’re retired, Social Security is supposed to provide a safety net. With so many retirees relying on Social Security as a major income source, any future reductions could have a serious impact on their financial well-being.

That’s why building additional income streams — especially passive ones — can be a game-changer for retirement security. Here are two options to consider for generating passive income.

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