Macro investor Stanley Druckenmiller stated that the U.S. Treasury's decision to double long-term debt buybacks, targeting 10- to 30-year maturities with at least $4 billion per operation from September 9 to November 4, artificially suppresses long-term yields. He warned this allows Congress to postpone painful Social Security and Medicare reforms, despite projections that the Social Security trust fund will run dry by 2032, triggering an automatic 22% benefit cut without congressional action. Druckenmiller suggested reforms including means testing, revised benefit formulas, and phased adjustments to eligibility.