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COVID-19’s impact on Social Security and Medicare trust funds

CQ Budget, Ep. 161

While projections vary and remain highly uncertain, economists and policy analysts across the ideological spectrum say Social Security and Medicare trust funds are now likely to deplete their reserves at a quicker pace than they would have before the pandemic hit.
While projections vary and remain highly uncertain, economists and policy analysts across the ideological spectrum say Social Security and Medicare trust funds are now likely to deplete their reserves at a quicker pace than they would have before the pandemic hit. (Tom Williams/CQ Roll Call)

An economic recession triggered by the COVID-19 pandemic means a drop in payroll tax revenues that finance the Social Security and Medicare trust funds. CQ Roll Call’s David Lerman and Jennifer Shutt discuss how quickly the funds could be depleted and what Congress might do to save them. They also give a preview of the appropriations process that begins in the House next week.

Show Notes:

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