Social Security weathered Covid-19 better than expected, but long-term challenges remain – Community News
Social Security

Social Security weathered Covid-19 better than expected, but long-term challenges remain

WASHINGTON — When the coronavirus pandemic plunged the US into recession last year, it predicted another blow to the health of the Social Security system. An expected drop in payroll tax revenues and an increase in disability claims were expected to erode the program’s reserves and put pressure on the government to respond.

Instead, the short-term finances of the federal government’s retirement and disability programs appear to have weathered the storm better than many policy analysts had predicted — removing some pressure from the Biden administration and Congress to come up with a long-term solution to help them. to be solvent.