Will the Coronavirus Force Social Security Benefit Cuts?
Over the past two months, we've witnessed firsthand how disruptive a global pandemic can be on the U.S. economy and labor market. The proliferation of the coronavirus disease 2019 (COVID-19) has led to nonessential business shutdowns across the country, with approximately 22 million people losing their jobs over a four-week stretch. There's almost no question at this point that the unemployment rate could top 15% by the end of April after sitting at a 50-year low of 3.5% just a few months prior.
While the primary focus has obviously been on the health and well-being of Americans and the U.S. economy, the impact on our nation's most-storied social program shouldn't be overlooked.
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Source Fool.com
