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Social Security Seemed Like a Future Problem. The Virus Changed That. – The New York Times

Even before the pandemic, Social Security’s finances were under growing pressure. The next president and Congress will play a crucial role in what happens next.

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Even with the tax on high earners, Mr. Bidens proposal would buy the program only an additional five years of solvency, according to the Urban Institute analysis, though it would soften the benefit cuts that would be necessary if further changes arent made.
Mr. Bidens policy advisers, however, said the proposal is something of an opening bid. The vice presidents financing proposal shows how he would protect and increase benefits for all Social Security recipients while making a down-payment on long-term…

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