COVID recession pushed Social Security insolvency up a year
Associated PressWASHINGTON — The sharp shock of the coronavirus recession pushed Social Security a year closer to insolvency but left Medicare’s exhaustion date unchanged, the government reported Tuesday in a counterintuitive assessment that deepens the uncertainty around the nation’s bedrock retirement programs. The new projections in the annual Social Security and Medicare trustees reports indicate that Social Security’s massive trust fund will be unable to pay full benefits in 2034 instead of last year’s estimated exhaustion date of 2035. The trustees’ reports, which have been delayed for months, represent the government’s effort to assess the impact of last year’s pandemic and recession on Social Security and Medicare. And this year there’s no Social Security commissioner either, since President Joe Biden fired Andrew Saul, a holdover appointee from the Trump administration.
History of this topic
Millions to Get Bigger Social Security Checks If Biden Signs New Bill
Live MintMedicare and Social Security go-broke dates are pushed back in a ‘measure of good news’
Associated Press
Biden warns of GOP plans for Medicare, Social Security cuts
Associated Press
We’re the grandsons of Social Security’s founders. Here’s why it’s worth saving
Raw Story
Go-broke dates pushed back for Social Security, Medicare
Associated Press
Biden fires Trump-appointed head of Social Security agency
Associated Press
Column: No, Joe Biden isn’t secretly planning to cut your Social Security
LA TimesDiscover Related
