10 Ways COVID-19 Will Affect Social Security
For more than three months, the coronavirus disease 2019 (COVID-19) pandemic has upended society as we know it. The U.S. becoming the epicenter of the pandemic left regulators with little choice but to shut down nonessential businesses throughout most of the country to save lives.
But it's not just the physical well-being of Americans that's been threatened by COVID-19. This illness is a direct threat to people's financial footing, too. We've seen more than 41 million people file for initial unemployment benefits in a 10-week stretch, and the Congressional Budget Office has forecast a federal deficit for fiscal 2020 (ended Sept. 30, 2020) of $3.7 trillion!
It's also going to have a direct impact on the most-successful social program in the country, which currently provides benefits to more than 64 million Americans: Social Security. Here are 10 ways COVID-19 is directly or indirectly expected to affect the nearly 85-year-old Social Security program.
Source Fool.com
