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The Covid-19 recession risks draining the Social Security Trust Fund
A new study from the Bipartisan Policy Center found the COVID-19 recession risks draining the Social Security Trust Fund one to five years earlier than its trustees had projected. The Social Security Trustees had estimated the fund would run out of money in 2034, which would lead to cuts to recipients by roughly 25 percent. However, both Shai Akabs, BPC Economic Policy Director and Nicko Gladstone, Economic Policy Analyst said: “The timing of trust fund depletion will ultimately depend on the depth and duration of this recession’s toll on the labor market, which remains uncertain.” Read article here…